OPENLANE, Inc. (NYSE:KAR) Receives $21.60 Consensus Target Price from Brokerages

Shares of OPENLANE, Inc. (NYSE:KAR) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $21.60.

KAR has been the topic of several research analyst reports. StockNews.com downgraded OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research report on Friday. Stephens initiated coverage on OPENLANE in a research report on Wednesday, January 22nd. They issued an “equal weight” rating and a $20.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th.

Hedge Funds Weigh In On OPENLANE

Hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of OPENLANE during the 4th quarter worth $34,000. Quarry LP grew its position in shares of OPENLANE by 414.6% during the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer’s stock worth $43,000 after buying an additional 1,758 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of OPENLANE by 435.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock worth $51,000 after buying an additional 2,062 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of OPENLANE during the 4th quarter worth $68,000. Finally, KBC Group NV boosted its position in OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock valued at $105,000 after purchasing an additional 1,798 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

OPENLANE Stock Performance

NYSE:KAR opened at $20.96 on Friday. The stock’s fifty day moving average is $20.39 and its 200 day moving average is $18.57. OPENLANE has a fifty-two week low of $14.45 and a fifty-two week high of $21.93. The firm has a market capitalization of $2.24 billion, a PE ratio of 39.54, a PEG ratio of 1.85 and a beta of 1.52.

OPENLANE (NYSE:KAR) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $455.00 million for the quarter, compared to analyst estimates of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. Equities analysts forecast that OPENLANE will post 0.95 EPS for the current year.

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.