OPENLANE, Inc. (NYSE:KAR - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $17.70 and last traded at $17.58, with a volume of 464167 shares. The stock had previously closed at $17.26.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Barrington Research reiterated an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Wednesday, February 21st. Bank of America raised OPENLANE from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $16.00 to $20.00 in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $19.50.
View Our Latest Report on KAR
OPENLANE Price Performance
The company has a market cap of $1.90 billion, a price-to-earnings ratio of -9.60, a P/E/G ratio of 0.93 and a beta of 1.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.15. The company's 50 day moving average price is $15.77 and its 200 day moving average price is $14.95.
OPENLANE (NYSE:KAR - Get Free Report) last announced its earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. OPENLANE had a positive return on equity of 7.49% and a negative net margin of 9.37%. The business had revenue of $391.30 million for the quarter, compared to the consensus estimate of $392.56 million. During the same period in the previous year, the business earned $0.33 EPS. OPENLANE's revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts predict that OPENLANE, Inc. will post 0.83 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider James E. Money II sold 14,822 shares of the company's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $15.83, for a total transaction of $234,632.26. Following the transaction, the insider now owns 44,604 shares of the company's stock, valued at $706,081.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other OPENLANE news, CEO Peter J. Kelly bought 10,000 shares of the company's stock in a transaction on Monday, February 26th. The stock was bought at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the transaction, the chief executive officer now owns 323,355 shares of the company's stock, valued at approximately $4,808,288.85. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James E. Money II sold 14,822 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $15.83, for a total value of $234,632.26. Following the completion of the transaction, the insider now directly owns 44,604 shares in the company, valued at approximately $706,081.32. The disclosure for this sale can be found here. 2.74% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming lifted its holdings in OPENLANE by 25.0% during the second quarter. State of Wyoming now owns 4,649 shares of the specialty retailer's stock worth $71,000 after acquiring an additional 931 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of OPENLANE by 14.3% during the 3rd quarter. Lazard Asset Management LLC now owns 7,816 shares of the specialty retailer's stock valued at $116,000 after purchasing an additional 975 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of OPENLANE by 51.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 1,171 shares in the last quarter. Royal Bank of Canada grew its position in shares of OPENLANE by 165.8% in the 3rd quarter. Royal Bank of Canada now owns 2,703 shares of the specialty retailer's stock valued at $30,000 after purchasing an additional 1,686 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in OPENLANE by 144.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,872 shares of the specialty retailer's stock worth $39,000 after purchasing an additional 1,698 shares in the last quarter. Institutional investors own 99.76% of the company's stock.
About OPENLANE
(
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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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