Alpha Gen Capital
Darspal S Mann
Mar. 5, 2015, 7:00 AM
- SunTrust initiates coverage on Kar Auction (NYSE:KAR) with a Buy rating.
- The company is active in the vehicle auction service which has seen brisk activity over the last year.
- KAR +1.74% premarket to $37.51, just short of an all-time high.
Jun. 26, 2014, 1:34 PM
- There's still plenty of cyclical growth left within the U.S. auto market, argues KeyBanc's Brett Hoselton, starting coverage on CarMax (KMX +2.7%) with a Buy and $62 PT.
- Hoselton predicts CarMax will outperform the industry thanks to high off-lease user car sales, the maturing of recently-opened stores, and 15 planned 2015 store openings.
- Auto auction firm KAR (KAR +1.4%) is also higher.
Aug. 7, 2013, 7:02 PM
- KAR Auction Services prices its 15M share secondary offering at $25 per share, nearly in-line with today's closing price.
- The selling stockholder, KAR Holdings II, LLC, is the sole seller, KAR won't receive any proceeds from the offering.
- Credit Suisse, Goldman, Sachs and JPMorgan are acting as joint book-running managers.
- Shares +0.6% AH.
Jun. 3, 2013, 2:49 PM
KAR Auction Services (KAR -3.9%) slides after announcing a 15M share secondary. (PR)| Jun. 3, 2013, 2:49 PM
Dec. 27, 2012, 11:30 AM
KAR Auction Services (KAR +4%) gains on an upgrade to Overweight by analysts at Stephens. The firm cites better industry fundamentals and expectations for vehicle volume to accelerate during the second half of next year. The price target has also been raised to $23 from $19.| Dec. 27, 2012, 11:30 AM
Dec. 5, 2012, 7:15 PM
Kar Auction (KAR) prices its 13.5M share secondary offering at $17.50, a 3.5% discount to the close. Credit Suisse and Goldman acted as joint book running managers for the offering. Shares +1.8% AH.| Dec. 5, 2012, 7:15 PM
Sep. 12, 2012, 12:50 PMKKR, Apollo Global (APO), and Clayton Dubilier & Rice are considering a buyout of KAR Auction (KAR +1%) in what potentially could be a $4B deal. The discussion is in the early stages, after KAR hired Evercore Partners to solicit offers. A deal may be hard to come by however, as KAR's price has been rallying on buyout chatter and skewing the math. The stock is up more than 10% since August 22, when news of a potential sale broke. | Sep. 12, 2012, 12:50 PM | 1 Comment
Aug. 22, 2012, 3:45 PM
KAR Auction Services (KAR +5.4%) has approached PE firms to discuss a possible sale of the company in a deal that could top $4B, Reuters reports. KAR, through its used car wholesale auctions arm ADESA, is the no. 2 U.S. vehicle auction company behind Cox Enterprises' Manheim unit.| Aug. 22, 2012, 3:45 PM
May 30, 2012, 10:52 AM
Sep. 6, 2011, 10:12 AM
AutoNation's (AN -3.8%) weak August sales report looks like it hit a raw nerve with investors already nervous about companies depending on the auto industry. Prominent decliners: Goodyear (GT -6.4%), Bridgestone (BRDCY.PK -5.7%), Autolive (ALV -3.9%), KAR Auction Services (KAR -3.3%).| Sep. 6, 2011, 10:12 AM
Aug. 16, 2011, 1:18 PM
Aug. 10, 2011, 4:06 PM
KAR Auction Services (KAR -17%) crashes after reporting yesterday that Q2 sales were below analysts' estimates, as merger expenses and fewer numbers of autos at auction adversely impacted gross margins.| Aug. 10, 2011, 4:06 PM
Jun. 14, 2011, 12:46 PM