Karooooo (NASDAQ:KARO) Hits New 1-Year High at $42.43

Karooooo Ltd. (NASDAQ:KARO) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $42.43 and last traded at $42.43, with a volume of 37172 shares traded. The stock had previously closed at $39.62.

Analyst Ratings Changes

Separately, Morgan Stanley increased their price target on Karooooo from $31.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th.

Karooooo Stock Performance

The firm has a market capitalization of $863.75 million, a P/E ratio of 31.81 and a beta of 1.01. The stock has a 50-day moving average of $36.21 and a 200 day moving average of $31.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.52 and a current ratio of 1.52.

Karooooo (NASDAQ:KARO) last released its quarterly earnings results on Thursday, July 18th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $58.29 million for the quarter, compared to analyst estimates of $58.54 million. Karooooo had a return on equity of 27.88% and a net margin of 18.70%. On average, research analysts anticipate that Karooooo Ltd. will post 1.48 earnings per share for the current year.

Karooooo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 10.69%. This is a positive change from Karooooo’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, August 8th. Karooooo’s dividend payout ratio (DPR) is presently 340.16%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Swedbank AB boosted its position in Karooooo by 26.0% in the 2nd quarter. Swedbank AB now owns 120,000 shares of the company’s stock valued at $3,516,000 after buying an additional 24,746 shares during the last quarter. Acadian Asset Management LLC bought a new position in Karooooo in the 1st quarter valued at $67,000. Jupiter Asset Management Ltd. boosted its position in Karooooo by 2.6% in the 1st quarter. Jupiter Asset Management Ltd. now owns 198,392 shares of the company’s stock valued at $4,972,000 after buying an additional 5,002 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC boosted its position in Karooooo by 1.2% in the 2nd quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 175,349 shares of the company’s stock valued at $5,138,000 after buying an additional 2,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Karooooo by 23.3% in the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after buying an additional 3,356 shares during the last quarter.

About Karooooo

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.