OPENLANE, Inc. (NYSE:KAR) Receives $19.60 Consensus Target Price from Analysts

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

A number of research firms have recently commented on KAR. Bank of America upgraded OPENLANE from an “underperform” rating to a “neutral” rating and raised their target price for the company from $16.00 to $20.00 in a research report on Wednesday, April 10th. Robert W. Baird raised their target price on OPENLANE from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a research note on Thursday, May 2nd.

Insider Activity at OPENLANE

In other news, EVP James P. Coyle sold 6,000 shares of the business’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 transaction, the executive vice president now directly owns 23,885 shares in the company, valued at approximately $432,079.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KAR. TFO Wealth Partners LLC boosted its holdings in shares of OPENLANE by 16,018.2% during the 4th quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 1,762 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of OPENLANE by 175.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 1,018 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of OPENLANE during the 4th quarter worth approximately $164,000. Oak Thistle LLC acquired a new position in shares of OPENLANE during the 4th quarter worth approximately $190,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of OPENLANE during the 4th quarter worth approximately $221,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

OPENLANE Price Performance

Shares of KAR opened at $17.63 on Friday. OPENLANE has a fifty-two week low of $12.86 and a fifty-two week 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. The company has a market capitalization of $1.91 billion, a P/E ratio of -9.84, a P/E/G ratio of 1.22 and a beta of 1.44. The business’s 50-day moving average is $17.04 and its two-hundred day moving average is $16.31.

OPENLANE (NYSE:KAR) last posted its earnings results on Wednesday, May 1st. The specialty retailer reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). OPENLANE had a negative net margin of 9.04% and a positive return on equity of 8.53%. The business had revenue of $416.30 million for the quarter, compared to analyst estimates of $425.19 million. During the same quarter last year, the business earned $0.12 earnings per share. OPENLANE’s revenue was down 1.0% on a year-over-year basis. Research analysts predict that OPENLANE will post 0.8 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.