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

OPENLANE, Inc. (NYSE:KAR) has been assigned a consensus rating of “Moderate Buy” from the four ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $19.50.

A number of brokerages have recently commented on KAR. Bank of America upgraded shares of OPENLANE from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $16.00 to $20.00 in a research note on Wednesday, April 10th. Barrington Research reiterated an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a research note on Wednesday, February 21st.

Insider Activity at OPENLANE

In other OPENLANE news, CEO Peter J. Kelly bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the completion of the transaction, the chief executive officer now owns 323,355 shares of the company’s stock, valued at approximately $4,808,288.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other OPENLANE news, insider James E. Money II sold 14,822 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $15.83, for a total transaction of $234,632.26. Following the completion of the sale, the insider now directly owns 44,604 shares of the company’s stock, valued at approximately $706,081.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter J. Kelly bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $14.87 per share, with a total value of $148,700.00. Following the completion of the acquisition, the chief executive officer now owns 323,355 shares of the company’s stock, valued at approximately $4,808,288.85. The disclosure for this purchase can be found here. 2.74% of the stock is currently owned by company insiders.

Institutional Trading of OPENLANE

A number of institutional investors have recently bought and sold shares of KAR. TFO Wealth Partners LLC increased its stake in shares of OPENLANE by 16,018.2% during the fourth 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 during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in OPENLANE in the second quarter valued at about $27,000. Castleview Partners LLC purchased a new position in OPENLANE in the second quarter valued at about $38,000. Royal Bank of Canada grew its stake in OPENLANE by 165.8% in the third quarter. Royal Bank of Canada now owns 2,703 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 1,686 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in OPENLANE by 144.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,872 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 1,698 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Stock Down 1.5 %

Shares of OPENLANE stock opened at $17.18 on Wednesday. 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 stock has a market capitalization of $1.86 billion, a PE ratio of -9.39, a price-to-earnings-growth ratio of 0.94 and a beta of 1.45. OPENLANE has a 52-week low of $12.86 and a 52-week high of $17.70. The company has a 50-day simple moving average of $15.95 and a two-hundred day simple moving average of $15.00.

OPENLANE (NYSE:KAR) last issued its earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $391.30 million during the quarter, compared to analysts’ expectations of $392.56 million. OPENLANE had a negative net margin of 9.37% and a positive return on equity of 7.49%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. On average, analysts anticipate that OPENLANE will post 0.83 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.