OPENLANE, Inc. (NYSE:KAR) Receives Average Rating of "Hold" from Brokerages

Key Points

• OPENLANE, Inc. has received a consensus rating of "Hold" from five brokerages, with three analysts recommending a hold and two a buy, and an average price target of $28.75.
• Recent insider activity includes significant stock sales by executives, with EVP James P. Coyle selling 194,575 shares for over $5.4 million, reducing his position by 84%.
• OPENLANE reported $0.33 earnings per share in its latest quarterly results, exceeding expectations and marking an 11.6% increase in revenue year-over-year.

OPENLANE, Inc. (NYSE:KAR - Get Free Report) has earned a consensus rating of "Hold" from the five brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $28.75.

KAR has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Bank of America raised their target price on OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Stephens lifted their price objective on OPENLANE from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, September 10th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of OPENLANE in a research report on Saturday, September 27th. Finally, Barrington Research lifted their target price on OPENLANE from $25.00 to $30.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th.

Insider Activity

In related news, EVP James P. Coyle sold 194,575 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $27.94, for a total value of $5,436,425.50. Following the transaction, the executive vice president owned 36,851 shares in the company, valued at $1,029,616.94. The trade was a 84.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Charles S. Coleman sold 59,289 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $27.97, for a total value of $1,658,313.33. Following the completion of the transaction, the executive vice president owned 53,474 shares in the company, valued at $1,495,667.78. This trade represents a 52.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.51% of the company's stock.

Institutional Trading of OPENLANE

A number of institutional investors have recently added to or reduced their stakes in KAR. North Star Investment Management Corp. increased 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 valued at $39,000 after purchasing an additional 688 shares in the last quarter. FSC Wealth Advisors LLC purchased a new position in shares of OPENLANE during the 1st quarter worth $51,000. Smartleaf Asset Management LLC lifted its stake in shares of OPENLANE by 29.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,270 shares of the specialty retailer's stock worth $63,000 after purchasing an additional 735 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of OPENLANE by 19.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer's stock worth $69,000 after purchasing an additional 590 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of OPENLANE during the 1st quarter worth $75,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

OPENLANE Price Performance

KAR stock traded down $0.31 during mid-day trading on Friday, reaching $28.32. 1,088,781 shares of the company's stock were exchanged, compared to its average volume of 962,046. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 38.27, a price-to-earnings-growth ratio of 2.96 and a beta of 1.33. The stock's 50 day moving average is $28.11 and its 200 day moving average is $23.97. OPENLANE has a 12-month low of $15.44 and a 12-month high of $30.93.

OPENLANE (NYSE:KAR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.09. The company had revenue of $481.70 million for the quarter, compared to the consensus estimate of $453.26 million. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.OPENLANE's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 earnings per share. On average, research analysts forecast that OPENLANE will post 0.95 earnings per share for the current fiscal year.

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.

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