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 year. 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 1 year target prices for OPENLANE's stock. Their KAR share price targets range from $13.00 to $25.00. On average, they predict the company's share price to reach $18.75 in the next twelve months. This suggests a possible upside of 25.7% 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 shares have increased by 14.3% and is now trading at $14.92.
View the best growth stocks for 2023 here.

OPENLANE saw a decline in short interest in the month of October. As of October 31st, there was short interest totaling 2,920,000 shares, a decline of 22.5% from the October 15th total of 3,770,000 shares. Based on an average daily trading volume, of 625,200 shares, the days-to-cover ratio is currently 4.7 days. Approximately 2.8% of the shares of the company are short sold.
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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) issued its earnings results on Wednesday, November, 1st. The specialty retailer reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates 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 negative net margin of 8.07% and a positive trailing twelve-month return on equity of 8.97%. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 earnings per share.

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 EPS guidance of $0.60-$0.70 for the period, compared to the consensus EPS 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 a variety of retail and institutional 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%), William Blair Investment Management LLC (1.39%) and Northern Trust Corp (1.15%). 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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