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

OPENLANE, Inc. (NYSE:KAR) has received a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $19.60.

A number of equities research analysts have recently weighed in on KAR shares. Bank of America raised shares of OPENLANE from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $16.00 to $20.00 in a report on Wednesday, April 10th. Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a report on Thursday, May 2nd. Finally, Robert W. Baird boosted their price objective on shares of OPENLANE from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd.

Insider Buying and Selling at OPENLANE

In other news, EVP James P. Coyle sold 6,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $18.09, for a total transaction of $108,540.00. Following the sale, the executive vice president now directly owns 23,885 shares of the company’s stock, valued at approximately $432,079.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OPENLANE

Several hedge funds have recently modified their holdings of KAR. Hawk Ridge Capital Management LP raised its position in shares of OPENLANE by 5.3% during the 4th quarter. Hawk Ridge Capital Management LP now owns 3,900,178 shares of the specialty retailer’s stock worth $57,762,000 after purchasing an additional 195,200 shares during the last quarter. Invenomic Capital Management LP acquired a new position in shares of OPENLANE during the 4th quarter worth about $6,009,000. Mackenzie Financial Corp acquired a new position in shares of OPENLANE during the 4th quarter worth about $846,000. Olympiad Research LP acquired a new position in shares of OPENLANE during the 4th quarter worth about $255,000. Finally, Brown Advisory Inc. acquired a new position in shares of OPENLANE during the 4th quarter worth about $362,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

OPENLANE Stock Performance

Shares of KAR stock opened at $16.59 on Monday. The business’s fifty day simple moving average is $17.11 and its 200-day simple moving average is $15.97. The company has a market cap of $1.80 billion, a PE ratio of -9.27, a PEG ratio of 1.09 and a beta of 1.46. 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 12-month low of $12.86 and a 12-month high of $18.41.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $425.19 million. OPENLANE had a negative net margin of 9.04% and a positive return on equity of 8.53%. OPENLANE’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share. Analysts expect that OPENLANE will post 0.81 earnings per share for the current fiscal 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.