OPENLANE (KAR) Stock Forecast, Price & News

4 Wall Street 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 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.
View KAR analyst ratings or view top-rated stocks.

4 brokers have issued 1-year price objectives for OPENLANE's stock. Their KAR share price forecasts range from $13.00 to $25.00. On average, they predict the company's stock price to reach $19.00 in the next twelve months. This suggests a possible upside of 27.0% from the stock's current price.
View analysts price targets for KAR or view top-rated stocks among Wall Street analysts.

OPENLANE's stock was trading at $13.05 at the beginning of the year. Since then, KAR shares have increased by 14.6% and is now trading at $14.96.
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OPENLANE saw a drop in short interest in August. As of August 31st, there was short interest totaling 3,570,000 shares, a drop of 17.9% from the August 15th total of 4,350,000 shares. Based on an average daily volume of 575,600 shares, the days-to-cover ratio is currently 6.2 days. Currently, 3.3% of the shares of the company are short sold.
View OPENLANE's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 7th 2023.
View our KAR earnings forecast.

OPENLANE, Inc. (NYSE:KAR) released its earnings results on Thursday, August, 3rd. The specialty retailer reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.11. The specialty retailer earned $416.90 million during the quarter, compared to analyst estimates of $419.64 million. OPENLANE had a positive trailing twelve-month return on equity of 7.81% and a negative net margin of 9.34%. OPENLANE's revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) 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 FY23 earnings guidance on Wednesday, August, 2nd. The company provided earnings per share guidance of $0.60-$0.70 for the period, compared to the consensus estimate of $0.49.

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 trades on the New York Stock Exchange (NYSE) under the ticker symbol "KAR."

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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One share of KAR stock can currently be purchased for approximately $14.96.

OPENLANE (NYSE:KAR) has a market capitalization of $1.64 billion and generates $1.52 billion in revenue each year. The specialty retailer earns $241.20 million in net income (profit) each year or ($1.83) on an earnings per share basis.

The company employs 4,500 workers across the globe.

OPENLANE's mailing address is 11299 N. Illinois Street, CARMEL IN, 46032. The official website for the company is www.karauctionservices.com. The specialty retailer can be reached via phone at (800) 923-3725, via email at mike.eliason@karauctionservices.com, or via fax at 317-843-4898.