Karooooo (NASDAQ:KARO) Shares Down 3.7% - Here's Why

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) traded down 3.7% during trading on Monday . The stock traded as low as $38.41 and last traded at $38.55. 6,037 shares were traded during mid-day trading, a decline of 81% from the average session volume of 30,967 shares. The stock had previously closed at $40.03.

Analyst Ratings Changes

Separately, Raymond James reaffirmed an "outperform" rating and set a $51.00 price target (up previously from $46.00) on shares of Karooooo in a report on Thursday, January 16th.

Karooooo Stock Up 0.9 %

The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 25.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24. The firm's fifty day moving average is $42.74 and its two-hundred day moving average is $43.36.

Karooooo (NASDAQ:KARO - Get Free Report) last posted its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.05. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. On average, sell-side analysts expect that Karooooo Ltd. will post 1.57 EPS for the current fiscal year.

Institutional Trading of Karooooo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capricorn Fund Managers Ltd bought a new stake in Karooooo in the fourth quarter worth about $6,146,000. Raymond James Financial Inc. bought a new stake in shares of Karooooo in the 4th quarter worth approximately $635,000. New York State Common Retirement Fund acquired a new stake in Karooooo during the fourth quarter valued at approximately $26,000. Schwartz Investment Counsel Inc. boosted its holdings in Karooooo by 17.2% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company's stock worth $2,735,000 after buying an additional 8,881 shares in the last quarter. Finally, Polen Capital Management LLC grew its position in Karooooo by 24.8% in the fourth quarter. Polen Capital Management LLC now owns 13,273 shares of the company's stock worth $599,000 after buying an additional 2,639 shares during the last quarter.

Karooooo Company Profile

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.