OPENLANE (NYSE:KAR - Get Free Report) had its price target boosted by equities research analysts at Barrington Research from $25.00 to $30.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the specialty retailer's stock. Barrington Research's price target would indicate a potential upside of 4.21% from the stock's previous close.
Several other research analysts have also recently weighed in on the stock. Wall Street Zen raised shares of OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Bank of America lifted their target price on shares of OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $25.25.
Get Our Latest Analysis on OPENLANE
OPENLANE Stock Performance
Shares of NYSE:KAR traded up $3.75 during midday trading on Wednesday, hitting $28.79. The company's stock had a trading volume of 1,389,190 shares, compared to its average volume of 829,745. OPENLANE has a fifty-two week low of $15.44 and a fifty-two week high of $28.78. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 43.62, a PEG ratio of 2.70 and a beta of 1.40. The stock's 50 day simple moving average is $24.14 and its 200 day simple moving average is $21.65.
OPENLANE (NYSE:KAR - Get Free Report) last released its earnings results on Wednesday, August 6th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.10. OPENLANE had a return on equity of 10.38% and a net margin of 7.15%. During the same quarter in the prior year, the firm earned $0.19 EPS. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts anticipate that OPENLANE will post 0.95 EPS for the current year.
Insider Transactions at OPENLANE
In other OPENLANE news, EVP James P. Coyle sold 7,000 shares of OPENLANE stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $21.72, for a total value of $152,040.00. Following the completion of the transaction, the executive vice president directly owned 36,511 shares of the company's stock, valued at approximately $793,018.92. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.32% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On OPENLANE
A number of hedge funds have recently bought and sold shares of KAR. Canada Pension Plan Investment Board acquired a new stake in OPENLANE in the 4th quarter worth approximately $34,000. North Star Investment Management Corp. boosted its position in shares of OPENLANE by 77.6% during the 2nd 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 increased its stake in OPENLANE by 414.6% during the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock worth $43,000 after purchasing an additional 1,758 shares during the period. FSC Wealth Advisors LLC purchased a new stake in shares of OPENLANE during the first quarter worth approximately $51,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of OPENLANE by 29.0% during the first 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. Hedge funds and other institutional investors own 99.76% of the company's stock.
About OPENLANE
(
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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