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

by · The Markets Daily

Shares of OPENLANE, Inc. (NYSE:KAR – Get Free Report) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $30.20.

A number of equities analysts have weighed in on KAR shares. Stephens boosted their price target 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 shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Barclays initiated coverage on OPENLANE in a research report on Tuesday, November 11th. They issued an “overweight” rating and a $32.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on OPENLANE from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Barrington Research boosted their price target on OPENLANE from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th.

Get Our Latest Analysis on OPENLANE

Institutional Investors Weigh In On OPENLANE

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. lifted its position in OPENLANE by 46.3% during the third quarter. Bessemer Group Inc. now owns 1,475 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 467 shares during the period. North Star Investment Management Corp. boosted its position in OPENLANE by 77.6% during the second quarter. North Star Investment Management Corp. now owns 1,575 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 688 shares during the last quarter. Quarry LP bought a new position in OPENLANE during the third quarter worth $48,000. Quantbot Technologies LP acquired a new position in shares of OPENLANE during the third quarter worth approximately $82,000. Finally, USA Financial Formulas bought a new stake in OPENLANE during the 3rd quarter worth approximately $83,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

OPENLANE Stock Up 1.8%

Shares of NYSE:KAR traded up $0.44 during midday trading on Friday, reaching $24.93. 1,381,027 shares of the company were exchanged, compared to its average volume of 851,407. The firm has a market cap of $2.65 billion, a PE ratio of 33.69, a P/E/G ratio of 1.81 and a beta of 1.33. OPENLANE has a fifty-two week low of $17.08 and a fifty-two week high of $30.93. The stock has a fifty day simple moving average of $26.85 and a two-hundred day simple moving average of $25.73.

OPENLANE (NYSE:KAR – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. 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 analyst estimates of $464.40 million. During the same period in the previous year, the company posted $0.26 earnings per share. The company’s quarterly 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. As a group, analysts forecast that OPENLANE will post 0.95 earnings per share for the current year.

OPENLANE Company Profile

(Get Free Report)

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.

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