Analysts Set OPENLANE, Inc. (NYSE:KAR) Target Price at $22.20

OPENLANE, Inc. (NYSE:KAR) has received an average rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $22.20.

Several analysts have commented on the stock. Stephens raised shares of OPENLANE from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. Barrington Research reiterated an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a report on Friday, February 21st. JPMorgan Chase & Co. lowered OPENLANE from an “overweight” rating to a “neutral” rating and cut their target price for the company from $23.00 to $20.00 in a report on Thursday, March 27th. Finally, StockNews.com lowered OPENLANE from a “buy” rating to a “hold” rating in a report on Friday, March 28th.

OPENLANE Stock Up 8.0 %

KAR stock opened at $18.98 on Monday. The company has a 50 day moving average of $20.42 and a two-hundred day moving average of $19.39. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 1.85 and a beta of 1.38. OPENLANE has a 12-month low of $15.44 and a 12-month high of $22.47.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The business had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. On average, research analysts anticipate that OPENLANE will post 0.95 EPS for the current year.

Institutional Investors Weigh In On OPENLANE

Hedge funds and other institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new stake in OPENLANE during the 4th quarter valued at approximately $34,000. Quarry LP lifted its holdings in shares of OPENLANE by 414.6% during the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer’s stock worth $43,000 after buying an additional 1,758 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of OPENLANE by 435.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 2,062 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of OPENLANE in the fourth quarter worth $68,000. Finally, KBC Group NV increased its position in OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock worth $105,000 after acquiring an additional 1,798 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

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.