Karooooo (NASDAQ:KARO) Receives Overweight Rating from Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Karooooo (NASDAQ:KARO) in a report published on Monday, Benzinga reports. Morgan Stanley currently has a $31.00 target price on the stock.

Separately, Raymond James increased their price target on shares of Karooooo from $26.00 to $29.00 and gave the company an outperform rating in a report on Wednesday, January 24th.

Karooooo Trading Down 5.6 %

Shares of NASDAQ:KARO opened at $29.51 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.38 and a debt-to-equity ratio of 0.06. Karooooo has a 12 month low of $18.59 and a 12 month high of $32.00. The company has a 50-day moving average price of $25.87 and a 200 day moving average price of $24.94.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings results on Monday, January 22nd. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Karooooo had a net margin of 16.67% and a return on equity of 25.26%. The firm had revenue of $57.36 million during the quarter, compared to the consensus estimate of $51.99 million. As a group, research analysts expect that Karooooo will post 1.21 EPS for the current fiscal year.

Institutional Trading of Karooooo

Several institutional investors have recently added to or reduced their stakes in KARO. Barclays PLC lifted its stake in Karooooo by 430.5% in the second quarter. Barclays PLC now owns 4,546 shares of the company’s stock worth $106,000 after purchasing an additional 3,689 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its stake in Karooooo by 2.0% in the third quarter. Schwartz Investment Counsel Inc. now owns 51,685 shares of the company’s stock worth $1,029,000 after purchasing an additional 1,000 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in Karooooo by 17.9% in the third quarter. Jupiter Asset Management Ltd. now owns 196,873 shares of the company’s stock worth $3,920,000 after purchasing an additional 29,849 shares during the last quarter. Finally, Gladius Capital Management LP lifted its stake in Karooooo by 7.9% in the third quarter. Gladius Capital Management LP now owns 6,197 shares of the company’s stock worth $123,000 after purchasing an additional 454 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.