JPMorgan Chase & Co. Forecasts Strong Price Appreciation for OPENLANE (NYSE:KAR) Stock

OPENLANE (NYSE:KAR) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $28.00 to $29.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 15.66% from the stock’s current price.

Several other brokerages have also recently commented on KAR. Stephens increased their price target on shares of OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 10th. Weiss Ratings downgraded OPENLANE from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Barrington Research lifted their target price on OPENLANE from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Finally, Zacks Research raised OPENLANE from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, OPENLANE currently has a consensus rating of “Moderate Buy” and an average target price of $29.75.

OPENLANE Stock Up 0.5%

KAR stock opened at $25.07 on Thursday. OPENLANE has a 52-week low of $17.08 and a 52-week high of $30.93. The stock’s 50 day moving average is $27.64 and its two-hundred day moving average is $25.27. The company has a market capitalization of $2.67 billion, a PE ratio of 33.88, a P/E/G ratio of 1.81 and a beta of 1.33.

OPENLANE (NYSE:KAR) last released its earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The company had revenue of $498.40 million during the quarter, compared to analysts’ expectations of $464.40 million. During the same period in the prior year, the business posted $0.26 EPS. The business’s revenue was up 8.4% on a year-over-year basis. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. As a group, sell-side analysts anticipate that OPENLANE will post 0.95 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. grew its position in shares of OPENLANE by 46.3% during the third quarter. Bessemer Group Inc. now owns 1,475 shares of the specialty retailer’s stock worth $43,000 after acquiring an additional 467 shares during the last quarter. North Star Investment Management Corp. boosted its stake in OPENLANE by 77.6% during the 2nd quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 688 shares during the period. USA Financial Formulas bought a new position in OPENLANE in the 3rd quarter worth about $83,000. Smartleaf Asset Management LLC increased its stake in shares of OPENLANE by 29.0% in the first 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 period. Finally, Covestor Ltd increased its stake in shares of OPENLANE by 14,356.5% in the third quarter. Covestor Ltd now owns 3,325 shares of the specialty retailer’s stock valued at $96,000 after purchasing an additional 3,302 shares during the period. 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.