Karooooo (NASDAQ:KARO) Sees Strong Trading Volume – Should You Buy?

Karooooo Ltd. (NASDAQ:KARO) shares saw unusually-high trading volume on Friday . Approximately 39,880 shares were traded during trading, a decline of 12% from the previous session’s volume of 45,204 shares.The stock last traded at $45.47 and had previously closed at $45.66.

Analyst Upgrades and Downgrades

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

Karooooo Stock Down 0.9 %

The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $46.67 and its 200 day moving average price is $42.55. The firm has a market cap of $1.40 billion, a P/E ratio of 29.02 and a beta of 1.02.

Karooooo (NASDAQ:KARO) last announced its earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. As a group, research analysts expect that Karooooo Ltd. will post 1.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Capricorn Fund Managers Ltd bought a new position in shares of Karooooo during the 4th quarter valued at about $6,146,000. Raymond James Financial Inc. bought a new stake in Karooooo during the fourth quarter worth approximately $635,000. Marshall Wace LLP grew its position in Karooooo by 32.4% in the fourth quarter. Marshall Wace LLP now owns 39,021 shares of the company’s stock worth $1,762,000 after buying an additional 9,552 shares during the last quarter. Schwartz Investment Counsel Inc. increased its holdings in shares of Karooooo by 17.2% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company’s stock valued at $2,735,000 after buying an additional 8,881 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Karooooo by 1,727.0% during the 4th quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company’s stock valued at $403,000 after acquiring an additional 8,445 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.