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

Shares of OPENLANE, Inc. (NYSE:KAR) have earned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $21.60.

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

OPENLANE Stock Performance

Shares of NYSE:KAR opened at $20.66 on Wednesday. The business has a fifty day moving average of $20.20 and a 200-day moving average of $18.16. OPENLANE has a twelve month low of $12.86 and a twelve month high of $20.85. The firm has a market cap of $2.21 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.80 and a beta of 1.52.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. The firm had revenue of $448.00 million for the quarter, compared to analyst estimates of $431.68 million. During the same period last year, the company earned $0.18 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts anticipate that OPENLANE will post 0.84 EPS for the current fiscal year.

Insider Activity at OPENLANE

In related news, CFO Brad S. Lakhia acquired 4,985 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $20.06 per share, for a total transaction of $99,999.10. Following the completion of the acquisition, the chief financial officer now directly owns 14,303 shares in the company, valued at approximately $286,918.18. This trade represents a 53.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.32% of the stock is currently owned by company insiders.

Institutional Trading of OPENLANE

Several institutional investors have recently added to or reduced their stakes in the company. River Road Asset Management LLC lifted its holdings in shares of OPENLANE by 15.3% during the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock worth $85,161,000 after buying an additional 671,104 shares in the last quarter. Geode Capital Management LLC increased its position in OPENLANE by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock worth $41,799,000 after acquiring an additional 35,214 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in OPENLANE by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock valued at $29,708,000 after purchasing an additional 6,469 shares during the period. D. E. Shaw & Co. Inc. grew its position in shares of OPENLANE by 14.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,441,923 shares of the specialty retailer’s stock worth $23,922,000 after purchasing an additional 181,130 shares in the last quarter. Finally, Clifford Capital Partners LLC bought a new position in shares of OPENLANE during the third quarter worth approximately $10,309,000. 99.76% of the stock is currently owned by institutional investors.

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.