OPENLANE, Inc. (NYSE:KAR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of OPENLANE, Inc. (NYSE:KAR) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $19.60.

Separately, Barrington Research reiterated an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a report on Friday, September 20th.

OPENLANE Trading Up 0.6 %

KAR stock opened at $15.83 on Wednesday. OPENLANE has a 12-month low of $12.86 and a 12-month high of $18.73. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -8.84, a PEG ratio of 1.73 and a beta of 1.44. The business’s 50-day moving average is $16.85 and its 200 day moving average is $17.09.

OPENLANE (NYSE:KAR) last posted its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The firm had revenue of $431.80 million during the quarter, compared to analyst estimates of $426.11 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities analysts forecast that OPENLANE will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Burgundy Asset Management Ltd. lifted its stake in OPENLANE by 1.7% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock worth $148,015,000 after purchasing an additional 146,266 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of OPENLANE by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,143,903 shares of the specialty retailer’s stock valued at $118,517,000 after buying an additional 50,773 shares during the period. 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 valued at $57,762,000 after buying an additional 195,200 shares during the period. Sunriver Management LLC raised its position in shares of OPENLANE by 729.7% during the 4th quarter. Sunriver Management LLC now owns 2,338,093 shares of the specialty retailer’s stock valued at $34,627,000 after buying an additional 2,056,280 shares during the period. Finally, Invenomic Capital Management LP raised its position in shares of OPENLANE by 277.0% during the 1st quarter. Invenomic Capital Management LP now owns 1,529,680 shares of the specialty retailer’s stock valued at $26,463,000 after buying an additional 1,123,953 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

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.