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

OPENLANE, Inc. (NYSE:KAR) has been given an average rating of “Moderate Buy” by the five brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $19.60.

Separately, Barrington Research reissued an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a report on Thursday, August 22nd.

Institutional Trading of OPENLANE

Several hedge funds have recently bought and sold shares of KAR. TFO Wealth Partners LLC raised its position 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 valued at $26,000 after buying an additional 1,762 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of OPENLANE by 175.5% during the second quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 1,018 shares in the last quarter. Quarry LP lifted its holdings in shares of OPENLANE by 201.4% in the 2nd quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock worth $39,000 after buying an additional 1,587 shares during the period. Innealta Capital LLC bought a new position in OPENLANE during the 2nd quarter worth about $81,000. Finally, Teacher Retirement System of Texas purchased a new position in OPENLANE during the fourth quarter valued at approximately $164,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

OPENLANE Price Performance

OPENLANE stock opened at $16.55 on Friday. The stock has a market capitalization of $1.80 billion, a PE ratio of -9.24, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. The business’s fifty day moving average is $17.28 and its 200 day moving average is $17.00. OPENLANE has a one year low of $12.86 and a one year high of $18.73.

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