Analysts Set OPENLANE, Inc. (NYSE:KAR) Target Price at $18.60

OPENLANE, Inc. (NYSE:KAR) has earned an average rating of “Hold” from the four analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $18.75.

KAR has been the subject of several recent research reports. Barrington Research reiterated an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a report on Friday, August 11th. JPMorgan Chase & Co. raised their target price on OPENLANE from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, October 16th. StockNews.com started coverage on OPENLANE in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, TheStreet downgraded OPENLANE from a “c-” rating to a “d+” rating in a report on Wednesday.

OPENLANE Trading Up 4.1 %

KAR stock opened at $14.72 on Thursday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -8.81, a PEG ratio of 0.68 and a beta of 1.45. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $14.83 and a 200-day simple moving average of $14.99. OPENLANE has a 52 week low of $12.09 and a 52 week high of $16.49.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, November 1st. The specialty retailer reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. The business had revenue of $416.30 million during the quarter, compared to the consensus estimate of $410.66 million. OPENLANE had a positive return on equity of 8.74% and a negative net margin of 8.07%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 EPS. On average, equities research analysts expect that OPENLANE will post 0.65 EPS for the current year.

Institutional Investors Weigh In On OPENLANE

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in OPENLANE by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 13,185,743 shares of the specialty retailer’s stock valued at $238,002,000 after purchasing an additional 549,574 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in shares of OPENLANE by 2.7% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 8,272,487 shares of the specialty retailer’s stock worth $125,907,000 after acquiring an additional 220,860 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of OPENLANE by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,592,007 shares of the specialty retailer’s stock worth $100,331,000 after acquiring an additional 184,410 shares in the last quarter. State Street Corp grew its position in shares of OPENLANE by 2.0% in the 2nd quarter. State Street Corp now owns 4,405,042 shares of the specialty retailer’s stock worth $65,062,000 after acquiring an additional 86,181 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of OPENLANE by 0.3% in the 1st quarter. American Century Companies Inc. now owns 3,562,346 shares of the specialty retailer’s stock worth $48,733,000 after acquiring an additional 10,032 shares in the last quarter. Institutional investors and hedge funds 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.