Last $30.31 USD
Change Today -0.15 / -0.49%
Volume 679.6K
KAR On Other Exchanges
Symbol
Exchange
Berlin
As of 8:04 PM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

kar auction services inc (KAR) Snapshot

Open
$30.44
Previous Close
$30.46
Day High
$30.74
Day Low
$30.22
52 Week High
03/7/14 - $32.24
52 Week Low
05/2/13 - $20.90
Market Cap
4.2B
Average Volume 10 Days
851.2K
EPS TTM
$0.67
Shares Outstanding
139.2M
EX-Date
03/24/14
P/E TM
45.5x
Dividend
$1.00
Dividend Yield
2.90%
Current Stock Chart for KAR AUCTION SERVICES INC (KAR)

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kar auction services inc (KAR) Details

KAR Auction Services, Inc., together with its subsidiaries, provides vehicle auction services in North America. It operates in three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities. This segment also provides value-added services, such as auction related, transportation, reconditioning, inspection, title and repossession administration and remarketing, and analytical services. The ADESA Auctions segment sells its products and services through commercial fleet operators, financial institutions, rental car companies, new and used vehicle dealers, and vehicle manufacturers and their captive finance companies to franchise and independent used vehicle dealers. The IAA segment offers salvage vehicle auctions and related services that facilitate the remarketing of damaged vehicles designated as total losses by insurance companies, as well as charity donation, recovered stolen, and low value used vehicles. This segment also provides inbound transportation logistics, inspection, evaluation, salvage recovery, titling, and settlement administrative services. The AFC segment offers floorplan financing, a short-term inventory-secured financing, to independent used vehicle dealers. As of December 31, 2013, the company had a network of 65 whole car auction and 164 salvage auction locations, as well as serviced auctions through 105 locations. The company was formerly known as KAR Holdings, Inc. and changed its name to KAR Auction Services, Inc. in November 2009. KAR Auction Services, Inc. was founded in 2006 and is headquartered in Carmel, Indiana.

8,610 Employees
Last Reported Date: 02/19/14
Founded in 2006

kar auction services inc (KAR) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $816.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $425.4K
Chief Operating Officer
Total Annual Compensation: $416.2K
Director and Chief Executive Officer of Insur...
Total Annual Compensation: $501.8K
Chief Client Officer
Total Annual Compensation: $500.0K
Compensation as of Fiscal Year 2012.

kar auction services inc (KAR) Key Developments

KAR Auction Services, Inc. Announces Management Changes, Effective March 24, 2014

KAR Auction Services, Inc. announced that Don Gottwald will fill the newly created position of KAR chief operating officer. The creation of this new role will enable KAR to achieve even greater collaboration across its core business units and align the company in order to best serve the needs of its customers. The following changes are effective March 24, 2014: KAR CEO Hallett will focus on and influence the future of KAR and the automotive remarketing industry. In addition, he will enhance relationships with customers from all of KAR's business segments. Hallett will also identify and lead the company's strategic growth and innovation initiatives. Gottwald Promoted to KAR Chief Operating Officer (COO). Stepping into the newly created position of KAR COO will be Don Gottwald. He has served as CEO of Automotive Finance Corporation (AFC), a subsidiary of KAR Auction Services, since 2009. As COO, Gottwald will have responsibility for all KAR business units and related subsidiaries, including ADESA, Insurance Auto Auctions and AFC. He will also oversee all support functions, such as human resources, corporate development, enterprise optimization and client services. Gottwald will direct the strategic and operational leadership of these businesses as well as long-term alignment and integration enterprise wide. He will continue to report to Hallett. Hammer Promoted to AFC CEO and President. Following a well-executed succession plan, John Hammer will assume the role of CEO and President of AFC. He was promoted to AFC president and chief operating officer in 2013 and first joined the company in 2009 as chief operating officer. Hammer will continue to report to Gottwald. Prior to AFC, Hammer held senior management roles for more than a decade at various subsidiaries of GMAC Financial Services. He has also served as a general manager at AutoNation and held a management role at Mercedes Benz Credit Corp. Hammer has more than 20 years of experience in the automotive industry.

KAR Auction Services, Inc. Amends and Restates Credit Agreement

KAR Auction Services, Inc. announced that it has amended and restated its credit agreement dated as of May 19, 2011. The term loans under the original credit agreement have been repaid in full and terminated, and refinanced with a $650 million three-year senior secured term loan B-1 facility and a $1,120 million seven-year senior secured term loan B-2 facility. In addition, the amended and restated credit agreement also establishes a five-year $250 million revolving credit facility in place of the previous revolving commitments. The interest rate of term loan B-1 was reduced to LIBOR plus 2.50%. The interest rate of term loan B-2 remains at LIBOR plus 2.75% but the LIBOR floor was reduced to 0.75%. The reduction in pricing is expected to save the company an annualized amount of approximately $9 million in cash interest. The revolving commitments may be used for ongoing working capital needs and general corporate purposes for the company and its subsidiaries. The company has not drawn any amounts under the revolver.

KAR Auction Services, Inc. Presents at 16th Annual Credit Suisse Global Services Conference, Mar-10-2014 02:30 PM

KAR Auction Services, Inc. Presents at 16th Annual Credit Suisse Global Services Conference, Mar-10-2014 02:30 PM. Venue: The Phoenician, Scottsdale, Arizona, United States. Speakers: Eric M. Loughmiller, Chief Financial Officer, Principal Accounting Officer and Executive Vice President, Jonathan Peisner, Treasurer and Vice President Investor Relations.

 

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KAR

Industry Average

Valuation KAR Industry Range
Price/Earnings 63.3x
Price/Sales 1.9x
Price/Book 2.9x
Price/Cash Flow 16.2x
TEV/Sales 0.7x
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