OPENLANE (NYSE:KAR) Releases Earnings Results, Beats Estimates By $0.05 EPS

OPENLANE (NYSE:KAR) issued its quarterly earnings results on Wednesday. The specialty retailer reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05, Zacks reports. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The company had revenue of $498.40 million for the quarter, compared to analysts’ expectations of $464.40 million. During the same quarter last year, the business earned $0.26 earnings per share. OPENLANE’s revenue was up 8.4% on a year-over-year basis. OPENLANE updated its FY 2025 guidance to 1.220-1.26 EPS.

OPENLANE Stock Performance

Shares of NYSE KAR traded down $1.04 during midday trading on Thursday, hitting $25.02. 882,215 shares of the stock traded hands, compared to its average volume of 843,813. The company has a market cap of $2.66 billion, a PE ratio of 33.82, a P/E/G ratio of 1.81 and a beta of 1.33. OPENLANE has a one year low of $17.08 and a one year high of $30.93. The business has a 50 day moving average price of $27.80 and a two-hundred day moving average price of $25.23.

Institutional Investors Weigh In On OPENLANE

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its holdings in shares of OPENLANE by 2.8% during the second quarter. State Street Corp now owns 4,140,043 shares of the specialty retailer’s stock valued at $101,224,000 after acquiring an additional 110,841 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of OPENLANE by 4.5% during the second quarter. Public Sector Pension Investment Board now owns 659,516 shares of the specialty retailer’s stock valued at $16,125,000 after acquiring an additional 28,351 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of OPENLANE by 6.1% during the second quarter. Bank of America Corp DE now owns 427,026 shares of the specialty retailer’s stock valued at $10,441,000 after acquiring an additional 24,673 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of OPENLANE by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 367,688 shares of the specialty retailer’s stock valued at $7,089,000 after acquiring an additional 28,146 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of OPENLANE by 0.9% during the second quarter. Qube Research & Technologies Ltd now owns 357,622 shares of the specialty retailer’s stock valued at $8,744,000 after acquiring an additional 3,187 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

Analysts Set New Price Targets

KAR has been the subject of a number of analyst reports. Barrington Research raised their price objective on OPENLANE from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Weiss Ratings downgraded OPENLANE from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Stephens raised their price objective on OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 10th. Zacks Research upgraded OPENLANE from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on OPENLANE from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, OPENLANE currently has an average rating of “Moderate Buy” and an average price target of $29.50.

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.