OPENLANE (KAR) to Release Quarterly Earnings on Wednesday

OPENLANE (NYSE:KAR) will be announcing its earnings results after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of $0.21 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

OPENLANE Trading Down 3.6 %

NYSE:KAR opened at $16.95 on Tuesday. The stock has a 50-day simple moving average of $17.11 and a 200-day simple moving average of $16.50. The stock has a market cap of $1.84 billion, a P/E ratio of -9.47, a P/E/G ratio of 1.20 and a beta of 1.44. OPENLANE has a 1 year low of $12.86 and a 1 year high of $18.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.15.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KAR shares. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research report on Monday. Bank of America raised OPENLANE from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $16.00 to $20.00 in a research report on Wednesday, April 10th. Finally, Robert W. Baird upped their price objective on OPENLANE from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, OPENLANE currently has an average rating of “Moderate Buy” and an average price target of $19.60.

Insider Activity

In other OPENLANE news, EVP James P. Coyle sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $18.09, for a total transaction of $108,540.00. Following the completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.32% 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.