OPENLANE, Inc. (NYSE:KAR) Receives $21.60 Consensus Target Price from Analysts

OPENLANE, Inc. (NYSE:KAR) has earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $21.60.

Several research firms recently weighed in on KAR. StockNews.com downgraded OPENLANE from a “buy” rating to a “hold” rating in a report on Sunday, January 19th. Stephens began coverage on OPENLANE in a report on Wednesday, January 22nd. They issued an “equal weight” rating and a $20.00 price objective for the company. Barrington Research reiterated an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th.

OPENLANE Trading Down 0.2 %

NYSE:KAR opened at $20.81 on Wednesday. The stock has a fifty day simple moving average of $20.25 and a 200-day simple moving average of $18.22. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 80.03, a price-to-earnings-growth ratio of 1.80 and a beta of 1.52. OPENLANE has a twelve month low of $12.86 and a twelve month high of $21.05.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $448.00 million during the quarter, compared to the consensus estimate of $431.68 million. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. As a group, equities research analysts predict that OPENLANE will post 0.84 EPS for the current fiscal year.

Insider Transactions at OPENLANE

In other OPENLANE news, CFO Brad S. Lakhia purchased 4,985 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $20.06 per share, for a total transaction of $99,999.10. Following the completion of the purchase, the chief financial officer now owns 14,303 shares of the company’s stock, valued at approximately $286,918.18. The trade was a 53.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.32% of the company’s stock.

Institutional Investors Weigh In On OPENLANE

Large investors have recently modified their holdings of the business. Quarry LP grew its stake in shares of OPENLANE by 201.4% during the second quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 1,587 shares during the last quarter. KBC Group NV boosted its position in OPENLANE by 51.1% in the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock valued at $105,000 after buying an additional 1,798 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in OPENLANE in the fourth quarter valued at approximately $187,000. Creative Planning purchased a new stake in OPENLANE in the third quarter valued at approximately $193,000. Finally, Deerfield Management Company L.P. Series C purchased a new stake in OPENLANE in the second quarter valued at approximately $233,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

OPENLANE Company Profile

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.