OPENLANE, Inc. (NYSE:KAR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of OPENLANE, Inc. (NYSE:KAR) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $21.60.

A number of research analysts recently commented on KAR shares. Stephens started coverage on OPENLANE in a report on Wednesday, January 22nd. They issued an “equal weight” rating and a $20.00 price target on the stock. Barrington Research reissued an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a report on Friday. StockNews.com cut OPENLANE from a “buy” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. boosted their price target on OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th.

Institutional Trading of OPENLANE

Several hedge funds have recently modified their holdings of the company. Burgundy Asset Management Ltd. raised its holdings in shares of OPENLANE by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 9,278,497 shares of the specialty retailer’s stock worth $184,085,000 after acquiring an additional 153,975 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in OPENLANE by 26.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 339,542 shares of the specialty retailer’s stock valued at $6,737,000 after buying an additional 70,083 shares during the period. iSAM Funds UK Ltd purchased a new stake in OPENLANE during the 4th quarter valued at $291,000. Squarepoint Ops LLC purchased a new stake in OPENLANE during the 4th quarter valued at $248,000. Finally, Two Sigma Advisers LP raised its holdings in OPENLANE by 40.3% during the 4th quarter. Two Sigma Advisers LP now owns 89,500 shares of the specialty retailer’s stock valued at $1,776,000 after buying an additional 25,700 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

OPENLANE Trading Up 0.2 %

Shares of NYSE:KAR opened at $20.96 on Friday. The stock has a 50 day moving average of $20.39 and a 200 day moving average of $18.57. The company has a market cap of $2.24 billion, a PE ratio of 39.54, a price-to-earnings-growth ratio of 1.85 and a beta of 1.52. OPENLANE has a 12-month low of $14.45 and a 12-month high of $21.93.

OPENLANE (NYSE:KAR) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The company had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $416.64 million. Equities research analysts predict that OPENLANE will post 0.95 earnings per share for the current fiscal year.

About OPENLANE

OPENLANE, Inc, together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in North America, Europe, the Philippines, and Uruguay. The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles.