Analysts Set OPENLANE, Inc. (NYSE:KAR) Price Target at $22.80

OPENLANE, Inc. (NYSE:KAR) has been given a consensus rating of “Moderate Buy” by the five research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $22.80.

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. StockNews.com cut OPENLANE from a “buy” rating to a “hold” rating in a research note on Saturday, February 22nd. Barrington Research reissued an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a research report on Friday, February 21st. Finally, Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $20.00 to $26.00 in a research report on Friday, February 28th.

Institutional Investors Weigh In On OPENLANE

A number of institutional investors have recently made changes to their positions in KAR. Canada Pension Plan Investment Board purchased a new stake in shares of OPENLANE during the fourth quarter valued at approximately $34,000. Quarry LP grew 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 valued at $43,000 after buying an additional 1,758 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of OPENLANE by 435.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 2,062 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of OPENLANE during the fourth quarter valued at approximately $68,000. Finally, KBC Group NV grew its holdings in shares of OPENLANE by 51.1% during 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. Hedge funds and other institutional investors own 99.76% of the company’s stock.

OPENLANE Stock Performance

OPENLANE stock opened at $20.70 on Thursday. OPENLANE has a fifty-two week low of $15.44 and a fifty-two week high of $22.47. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 1.85 and a beta of 1.53. The stock’s 50 day simple moving average is $20.70 and its two-hundred day simple moving average is $19.00.

OPENLANE (NYSE:KAR) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $455.00 million during the quarter, compared to analysts’ expectations of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. On average, analysts predict that OPENLANE will post 0.95 earnings per share for the current year.

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.