OPENLANE, Inc. (NYSE:KAR) Receives Average Rating of “Moderate Buy” from Analysts

OPENLANE, Inc. (NYSE:KAR) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $19.60.

Several analysts have commented on KAR shares. Robert W. Baird raised their target price on shares of OPENLANE from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a research report on Thursday. Finally, Bank of America upgraded OPENLANE from an “underperform” rating to a “neutral” rating and increased their price target for the company from $16.00 to $20.00 in a research note on Wednesday, April 10th.

Insider Buying and Selling at OPENLANE

In other OPENLANE news, CEO Peter J. Kelly purchased 10,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was purchased at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the transaction, the chief executive officer now owns 323,355 shares in the company, valued at approximately $4,808,288.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other OPENLANE news, insider James E. Money II sold 14,822 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $15.83, for a total value of $234,632.26. Following the transaction, the insider now directly owns 44,604 shares of the company’s stock, valued at $706,081.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter J. Kelly bought 10,000 shares of the stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of $14.87 per share, with a total value of $148,700.00. Following the acquisition, the chief executive officer now owns 323,355 shares of the company’s stock, valued at $4,808,288.85. The disclosure for this purchase can be found here. Corporate insiders own 2.74% of the company’s stock.

Hedge Funds Weigh In On OPENLANE

A number of large investors have recently modified their holdings of the company. TFO Wealth Partners LLC raised its stake in shares of OPENLANE by 16,018.2% during the fourth quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 1,762 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of OPENLANE by 51.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 1,171 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of OPENLANE in the fourth quarter worth $164,000. Oak Thistle LLC purchased a new position in shares of OPENLANE in the fourth quarter worth $190,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of OPENLANE in the fourth quarter worth $221,000. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Stock Performance

NYSE KAR opened at $17.69 on Friday. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -9.88, a PEG ratio of 0.95 and a beta of 1.42. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. OPENLANE has a 1-year low of $12.86 and a 1-year high of $17.85. The company has a 50 day moving average of $16.72 and a 200-day moving average of $15.23.

OPENLANE (NYSE:KAR) last issued its quarterly earnings results on Wednesday, May 1st. The specialty retailer reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The company had revenue of $416.30 million during the quarter, compared to analyst estimates of $425.19 million. OPENLANE had a negative net margin of 9.04% and a positive return on equity of 8.53%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. On average, equities analysts forecast that OPENLANE will post 0.83 earnings per share for the current fiscal year.

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.