OPENLANE, Inc. (NYSE:KAR) Receives $22.80 Average PT from Brokerages

OPENLANE, Inc. (NYSE:KAR) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $22.80.

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

OPENLANE Stock Performance

NYSE:KAR opened at $21.05 on Thursday. The stock has a 50-day simple moving average of $20.71 and a 200-day simple moving average of $19.04. The stock has a market cap of $2.25 billion, a P/E ratio of 39.71, a P/E/G ratio of 1.85 and a beta of 1.53. OPENLANE has a 1 year low of $15.44 and a 1 year high of $22.47.

OPENLANE (NYSE:KAR) last released 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. The business 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, equities research analysts predict that OPENLANE will post 0.95 EPS for the current year.

Hedge Funds Weigh In On OPENLANE

A number of large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in OPENLANE during the 4th quarter worth approximately $34,000. Quarry LP boosted its stake in shares of OPENLANE by 414.6% in 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 in the last quarter. Smartleaf Asset Management LLC grew its holdings in OPENLANE by 435.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 2,062 shares during the period. Johnson Financial Group Inc. purchased a new position in OPENLANE in the fourth quarter worth $68,000. Finally, KBC Group NV raised its position in OPENLANE by 51.1% in 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 in the last quarter. Hedge funds and other institutional investors 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.