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

Shares of OPENLANE, Inc. (NYSE:KAR) have received an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $30.20.

A number of brokerages have recently issued reports on KAR. Stephens increased their price target on shares of OPENLANE from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, September 10th. Wall Street Zen lowered shares of OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. lifted their price target on shares of OPENLANE from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Zacks Research raised OPENLANE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of OPENLANE in a report on Monday.

Insider Buying and Selling at OPENLANE

In other news, EVP Charles S. Coleman sold 88,062 shares of OPENLANE stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $26.00, for a total transaction of $2,289,612.00. Following the completion of the transaction, the executive vice president owned 53,474 shares of the company’s stock, valued at $1,390,324. The trade was a 62.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.32% of the stock is currently owned by corporate insiders.

Institutional Trading of OPENLANE

Institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. increased its stake in shares of OPENLANE by 46.3% during the 3rd quarter. Bessemer Group Inc. now owns 1,475 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 467 shares in the last quarter. North Star Investment Management Corp. grew its holdings in OPENLANE by 77.6% during the 2nd quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 688 shares during the last quarter. Quarry LP purchased a new position in OPENLANE during the third quarter worth $48,000. Quantbot Technologies LP purchased a new position in OPENLANE during the third quarter worth $82,000. Finally, USA Financial Formulas acquired a new position in shares of OPENLANE in the third quarter worth $83,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

OPENLANE Price Performance

KAR opened at $30.04 on Wednesday. OPENLANE has a 12 month low of $17.08 and a 12 month high of $30.93. The stock has a market capitalization of $3.19 billion, a P/E ratio of 34.52, a P/E/G ratio of 1.42 and a beta of 1.25. The business has a 50 day simple moving average of $26.24 and a 200-day simple moving average of $26.33.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, November 5th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. OPENLANE had a return on equity of 12.42% and a net margin of 9.00%.The firm had revenue of $498.40 million during the quarter, compared to analysts’ expectations of $464.40 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. OPENLANE’s revenue was up 8.4% compared to the same quarter last year. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. Research analysts anticipate that OPENLANE will post 0.95 EPS 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.