Morgan Stanley Reaffirms Overweight Rating for Karooooo (NASDAQ:KARO)

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

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

Karooooo Price Performance

NASDAQ:KARO opened at $31.25 on Monday. The company has a fifty day moving average of $25.78 and a 200 day moving average of $24.91. Karooooo has a 52 week low of $18.59 and a 52 week high of $32.00. The company has a current ratio of 1.38, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Karooooo (NASDAQ:KARO) last posted 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 company had revenue of $57.36 million during the quarter, compared to analyst estimates of $51.99 million. On average, equities research analysts predict that Karooooo will post 1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KARO. Jupiter Asset Management Ltd. grew its position in shares of Karooooo by 17.9% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 196,873 shares of the company’s stock worth $3,920,000 after buying an additional 29,849 shares during the period. Barclays PLC lifted its stake in Karooooo by 430.5% during the 2nd quarter. Barclays PLC now owns 4,546 shares of the company’s stock valued at $106,000 after acquiring an additional 3,689 shares during the period. Schwartz Investment Counsel Inc. lifted its stake in Karooooo by 2.0% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 51,685 shares of the company’s stock valued at $1,029,000 after acquiring an additional 1,000 shares during the period. Finally, Gladius Capital Management LP lifted its stake in Karooooo by 7.9% during the 3rd quarter. Gladius Capital Management LP now owns 6,197 shares of the company’s stock valued at $123,000 after acquiring an additional 454 shares during the period.

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.