OPENLANE, Inc. (NYSE:KAR - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $25.86 and last traded at $25.75, with a volume of 162454 shares. The stock had previously closed at $25.80.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of OPENLANE from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $23.00 to $20.00 in a report on Thursday, March 27th. Bank of America upped their price objective on OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Finally, Wall Street Zen upgraded OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, OPENLANE presently has a consensus rating of "Moderate Buy" and an average price target of $24.00.
Check Out Our Latest Stock Analysis on KAR
OPENLANE Stock Up 1.0%
The company has a market capitalization of $2.74 billion, a PE ratio of 38.62, a PEG ratio of 3.24 and a beta of 1.41. The company has a 50-day moving average price of $22.94 and a two-hundred day moving average price of $21.05.
OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.07. The firm had revenue of $460.10 million for the quarter, compared to analysts' expectations of $445.70 million. OPENLANE had a return on equity of 10.38% and a net margin of 7.15%. The company's revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, equities analysts anticipate that OPENLANE, Inc. will post 0.95 EPS for the current fiscal year.
Insider Buying and Selling at OPENLANE
In related news, EVP James P. Coyle sold 7,000 shares of OPENLANE stock in a transaction on Friday, May 9th. The stock was sold at an average price of $21.72, for a total transaction of $152,040.00. Following the completion of the sale, the executive vice president owned 36,511 shares of the company's stock, valued at approximately $793,018.92. This trade represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.51% of the company's stock.
Institutional Trading of OPENLANE
A number of large investors have recently modified their holdings of KAR. Burgundy Asset Management Ltd. lifted its position in OPENLANE by 7.0% during the first quarter. Burgundy Asset Management Ltd. now owns 9,925,661 shares of the specialty retailer's stock valued at $191,367,000 after purchasing an additional 647,164 shares during the last quarter. Hawk Ridge Capital Management LP grew its position in OPENLANE by 11.2% in the first quarter. Hawk Ridge Capital Management LP now owns 4,577,285 shares of the specialty retailer's stock worth $88,250,000 after acquiring an additional 461,976 shares in the last quarter. Brown Advisory Inc. increased its stake in OPENLANE by 14.6% in the first quarter. Brown Advisory Inc. now owns 2,538,477 shares of the specialty retailer's stock valued at $48,942,000 after acquiring an additional 323,696 shares during the last quarter. Northern Trust Corp raised its position in OPENLANE by 16.0% during the first quarter. Northern Trust Corp now owns 1,586,179 shares of the specialty retailer's stock valued at $30,582,000 after purchasing an additional 219,261 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in OPENLANE by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,493,988 shares of the specialty retailer's stock worth $29,641,000 after purchasing an additional 35,164 shares during the last quarter. 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.
Read More
Before you consider OPENLANE, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and OPENLANE wasn't on the list.
While OPENLANE currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
