OPENLANE (NYSE:KAR) Upgraded by Zacks Research to Strong-Buy Rating

OPENLANE (NYSE:KAR) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on KAR. Stephens upped their price target on shares of OPENLANE from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, September 10th. JPMorgan Chase & Co. upped their price target on shares of OPENLANE from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Barrington Research increased their target price on shares of OPENLANE from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings lowered shares of OPENLANE from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.50.

OPENLANE Stock Performance

Shares of NYSE:KAR opened at $26.12 on Tuesday. OPENLANE has a 52-week low of $17.07 and a 52-week high of $30.93. The firm has a fifty day moving average of $27.80 and a 200 day moving average of $25.23. The firm has a market capitalization of $2.78 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 1.81 and a beta of 1.33.

OPENLANE (NYSE:KAR) last announced its earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. OPENLANE had a net margin of 8.18% and a return on equity of 11.65%. The company had revenue of $498.40 million during the quarter, compared to analyst estimates of $464.40 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. On average, sell-side analysts forecast that OPENLANE will post 0.95 EPS for the current fiscal year.

Institutional Trading of OPENLANE

A number of institutional investors and hedge funds have recently bought and sold shares of KAR. North Star Investment Management Corp. increased its holdings in shares of OPENLANE by 77.6% in the 2nd quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer’s stock worth $39,000 after buying an additional 688 shares during the last quarter. Bessemer Group Inc. grew its holdings in OPENLANE by 46.3% during the 3rd quarter. Bessemer Group Inc. now owns 1,475 shares of the specialty retailer’s stock valued at $43,000 after purchasing an additional 467 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in OPENLANE by 29.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,270 shares of the specialty retailer’s stock valued at $63,000 after purchasing an additional 735 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in OPENLANE by 19.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer’s stock valued at $69,000 after purchasing an additional 590 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in OPENLANE in the 1st quarter valued at about $75,000. 99.76% of the stock is currently owned by institutional investors.

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.