OPENLANE, Inc. (NYSE:KAR) Receives $22.80 Average Price Target from Analysts

OPENLANE, Inc. (NYSE:KAR) has been given an average rating of “Moderate Buy” by the five research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $22.80.

KAR has been the subject of several research reports. StockNews.com cut OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, February 22nd. Stephens raised shares of OPENLANE from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $26.00 in a report on Friday, February 28th. Barrington Research restated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th.

Institutional Trading of OPENLANE

Several hedge funds have recently modified their holdings of the company. Brown Advisory Inc. acquired a new position in shares of OPENLANE in the 4th quarter worth approximately $43,941,000. Kimelman & Baird LLC acquired a new position in OPENLANE in the fourth quarter worth $15,793,000. TFJ Management LLC bought a new stake in shares of OPENLANE during the fourth quarter worth $14,465,000. Clifford Capital Partners LLC acquired a new stake in shares of OPENLANE in the third quarter valued at $10,309,000. Finally, Advisory Research Inc. acquired a new stake in shares of OPENLANE in the fourth quarter valued at $9,761,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

OPENLANE Stock Performance

NYSE KAR opened at $21.06 on Thursday. The firm has a 50-day simple moving average of $20.74 and a 200 day simple moving average of $19.07. OPENLANE has a twelve month low of $15.44 and a twelve month high of $22.47. The stock has a market cap of $2.25 billion, a PE ratio of 39.73, a PEG ratio of 1.85 and a beta of 1.53.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The company had revenue of $455.00 million during the quarter, compared to the consensus estimate of $416.64 million. Research analysts forecast that OPENLANE will post 0.95 earnings per share for the current fiscal 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.