OPENLANE Stock Price, News & Analysis (NYSE:KAR)

4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for OPENLANE in the last twelve months. There are currently 1 sell rating, 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" KAR shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in KAR, but not buy additional shares or sell existing shares.
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4 equities research analysts have issued 12 month price targets for OPENLANE's stock. Their KAR share price targets range from $13.00 to $25.00. On average, they expect the company's stock price to reach $18.75 in the next year. This suggests a possible upside of 25.3% from the stock's current price.
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OPENLANE's stock was trading at $13.05 at the start of the year. Since then, KAR stock has increased by 14.6% and is now trading at $14.96.
View the best growth stocks for 2023 here.

OPENLANE saw a decrease in short interest during the month of October. As of October 31st, there was short interest totaling 2,920,000 shares, a decrease of 22.5% from the October 15th total of 3,770,000 shares. Based on an average trading volume of 625,200 shares, the short-interest ratio is currently 4.7 days. Approximately 2.8% of the company's shares are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 20th 2024.
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OPENLANE, Inc. (NYSE:KAR) posted its quarterly earnings results on Wednesday, November, 1st. The specialty retailer reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. The specialty retailer had revenue of $416.30 million for the quarter, compared to the consensus estimate of $410.66 million. OPENLANE had a positive trailing twelve-month return on equity of 8.97% and a negative net margin of 8.07%. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.05 EPS.

Invesco S&P SmallCap Industrials ETF holds 82,515 shares of KAR stock, representing 0.96% of its portfolio.

OPENLANE issued an update on its FY 2023 earnings guidance on Wednesday, November, 1st. The company provided earnings per share guidance of $0.60-$0.70 for the period, compared to the consensus estimate of $0.64. The company issued revenue guidance of -.

90 employees have rated OPENLANE Chief Executive Officer James P. Hallett on Glassdoor.com. James P. Hallett has an approval rating of 78% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other OPENLANE investors own include NVIDIA (NVDA), Verizon Communications (VZ), Cisco Systems (CSCO), Pfizer (PFE), AT&T (T), Alibaba Group (BABA), Exxon Mobil (XOM), Boeing (BA), Johnson & Johnson (JNJ) and Bank of America (BAC).

OPENLANE's stock is owned by many different institutional and retail investors. Top institutional investors include Burgundy Asset Management Ltd. (7.83%), Paradice Investment Management LLC (4.42%), Hawk Ridge Capital Management LP (3.43%), Charles Schwab Investment Management Inc. (1.60%), American Century Companies Inc. (1.51%) and William Blair Investment Management LLC (1.39%). Insiders that own company stock include J Mark Howell, James P Hallett, Michael T Kestner and Peter J Kelly.
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Shares of KAR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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