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

Shares of OPENLANE, Inc. (NYSE:KAR) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $30.20.

Several analysts recently weighed in on KAR shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OPENLANE in a report on Monday. Stephens raised their price objective on shares of OPENLANE from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, September 10th. Zacks Research upgraded shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Barclays began coverage on OPENLANE in a research report on Tuesday, November 11th. They set an “overweight” rating and a $32.00 price objective for the company. Finally, Wall Street Zen lowered OPENLANE from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th.

OPENLANE Trading Up 4.1%

Shares of NYSE KAR opened at $30.04 on Wednesday. The stock has a market cap of $3.19 billion, a P/E ratio of 34.52, a PEG ratio of 1.42 and a beta of 1.25. The business’s fifty day simple moving average is $26.24 and its 200-day simple moving average is $26.33. OPENLANE has a 12-month low of $17.08 and a 12-month high of $30.93.

OPENLANE (NYSE:KAR) last issued its quarterly earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. The company had revenue of $498.40 million for the quarter, compared to the consensus estimate of $464.40 million. OPENLANE had a return on equity of 12.42% and a net margin of 9.00%.OPENLANE’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 EPS. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. On average, equities analysts forecast that OPENLANE will post 0.95 EPS for the current fiscal year.

Insider Buying and Selling at OPENLANE

In other news, EVP Charles S. Coleman sold 88,062 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $26.00, for a total value of $2,289,612.00. Following the completion of the transaction, the executive vice president owned 53,474 shares in the company, valued at approximately $1,390,324. This represents a 62.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.32% of the company’s stock.

Hedge Funds Weigh In On OPENLANE

Large investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of OPENLANE during the second quarter worth $293,000. Comerica Bank raised its position in OPENLANE by 37.8% during the 1st quarter. Comerica Bank now owns 88,086 shares of the specialty retailer’s stock worth $1,698,000 after buying an additional 24,144 shares during the last quarter. Intech Investment Management LLC raised its position in OPENLANE by 30.0% during the 1st quarter. Intech Investment Management LLC now owns 126,826 shares of the specialty retailer’s stock worth $2,445,000 after buying an additional 29,261 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of OPENLANE in the 1st quarter worth $2,222,000. Finally, Invesco Ltd. increased its stake in shares of OPENLANE by 32.6% during the first quarter. Invesco Ltd. now owns 1,148,034 shares of the specialty retailer’s stock worth $22,134,000 after acquiring an additional 282,021 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

OPENLANE Company Profile

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.