Brokerages Set OPENLANE, Inc. (NYSE:KAR) Price Target at $30.20

Shares of OPENLANE, Inc. (NYSE:KAR) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $30.20.

KAR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on shares of OPENLANE from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Wall Street Zen cut OPENLANE from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “buy (b)” rating on shares of OPENLANE in a research note on Monday, December 22nd. Zacks Research upgraded OPENLANE from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Barclays assumed coverage on OPENLANE in a report on Tuesday, November 11th. They set an “overweight” rating and a $32.00 target price on the stock.

Insider Transactions at OPENLANE

In other OPENLANE news, EVP Charles S. Coleman sold 88,062 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $26.00, for a total transaction of $2,289,612.00. Following the sale, the executive vice president directly owned 53,474 shares of the company’s stock, valued at $1,390,324. This trade represents a 62.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.51% of the company’s stock.

Institutional Trading of OPENLANE

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

OPENLANE Stock Performance

OPENLANE has a 1-year low of $17.08 and a 1-year high of $30.98. The business’s 50 day moving average is $28.22 and its 200-day moving average is $27.51. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25.

OPENLANE (NYSE:KAR) last released its earnings results 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 company had revenue of $498.40 million for the quarter, compared to analysts’ expectations of $464.40 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. On average, sell-side analysts anticipate that OPENLANE will post 0.95 earnings per share for the current fiscal year.

About OPENLANE

OPENLANE (NYSE: KAR) operates a leading digital marketplace and full-service remarketing platform for used vehicles. The company provides both online and physical auction solutions, leveraging proprietary technology to connect sellers—including automotive manufacturers, dealer groups, rental and fleet operators—to a broad network of independent and franchise dealers. Through its platform, users can access real-time bidding, vehicle inspection reports, pricing guides and comprehensive data analytics to optimize transaction outcomes.

The company’s core offerings include a cloud-based auction management system, digital lane software, mobile bidding applications and marketing services designed to maximize vehicle turn times and resale values.