OPENLANE, Inc. (NYSE:KAR) Receives Consensus Rating of “Moderate Buy” from Analysts

OPENLANE, Inc. (NYSE:KAR) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $19.60.

Several equities research analysts have recently commented on the stock. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a research report on Thursday, May 2nd. Bank of America upgraded shares of OPENLANE from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $16.00 to $20.00 in a research report on Wednesday, April 10th. Finally, Robert W. Baird lifted their price target on shares of OPENLANE from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd.

OPENLANE Stock Performance

Shares of NYSE KAR opened at $16.00 on Monday. OPENLANE has a 1-year low of $12.86 and a 1-year high of $18.41. The company has a market cap of $1.73 billion, a PE ratio of -8.94, a P/E/G ratio of 1.07 and a beta of 1.46. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $17.19 and a two-hundred day moving average of $15.92.

OPENLANE (NYSE:KAR) last announced its earnings results on Wednesday, May 1st. The specialty retailer reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). OPENLANE had a positive return on equity of 8.53% and a negative net margin of 9.04%. The company had revenue of $416.30 million during the quarter, compared to the consensus estimate of $425.19 million. During the same period in the prior year, the firm posted $0.12 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. As a group, equities analysts expect that OPENLANE will post 0.81 earnings per share for the current fiscal year.

Insider Activity at OPENLANE

In related news, EVP James P. Coyle sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $18.09, for a total transaction of $108,540.00. Following the completion of the transaction, the executive vice president now owns 23,885 shares in the company, valued at $432,079.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG lifted its position in shares of OPENLANE by 16.8% in the third quarter. Deutsche Bank AG now owns 55,260 shares of the specialty retailer’s stock worth $824,000 after purchasing an additional 7,951 shares in the last quarter. Invesco Ltd. lifted its position in shares of OPENLANE by 5.8% in the third quarter. Invesco Ltd. now owns 770,127 shares of the specialty retailer’s stock worth $11,490,000 after purchasing an additional 42,420 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of OPENLANE in the third quarter worth $359,000. Algert Global LLC lifted its position in shares of OPENLANE by 79.6% in the third quarter. Algert Global LLC now owns 132,490 shares of the specialty retailer’s stock worth $1,977,000 after purchasing an additional 58,710 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of OPENLANE in the third quarter worth $3,388,000. Institutional investors own 99.76% of the company’s stock.

About OPENLANE

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.