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

Shares of OPENLANE, Inc. (NYSE:KAR) have earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat reports. Two equities 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 brokers that have covered the stock in the last year is $19.60.

A number of analysts have recently weighed in on the company. Robert W. Baird raised their target price on OPENLANE from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America raised OPENLANE from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $20.00 in a research note on Wednesday, April 10th. Finally, Barrington Research restated an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a report on Thursday.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. TFO Wealth Partners LLC increased its holdings in OPENLANE by 16,018.2% in the 4th quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock worth $26,000 after buying an additional 1,762 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in OPENLANE by 51.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 1,171 shares during the period. Teacher Retirement System of Texas bought a new stake in OPENLANE during the 4th quarter valued at approximately $164,000. Oak Thistle LLC bought a new stake in OPENLANE during the 4th quarter valued at approximately $190,000. Finally, Capstone Investment Advisors LLC bought a new stake in OPENLANE during the 4th quarter valued at approximately $221,000. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Stock Up 0.6 %

Shares of NYSE:KAR opened at $17.69 on Friday. OPENLANE has a 52 week low of $12.86 and a 52 week high of $17.85. 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 company has a market cap of $1.91 billion, a PE ratio of -9.88, a price-to-earnings-growth ratio of 0.95 and a beta of 1.42. The firm has a 50 day simple moving average of $16.72 and a 200 day simple moving average of $15.23.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The firm had revenue of $416.30 million during the quarter, compared to analyst estimates of $425.19 million. OPENLANE had a positive return on equity of 8.53% and a negative net margin of 9.04%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 EPS. As a group, research analysts expect that OPENLANE will post 0.83 earnings per share for the current year.

About OPENLANE

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.