OPENLANE, Inc. (NYSE:KAR) Receives $21.60 Consensus Target Price from Analysts

OPENLANE, Inc. (NYSE:KAR - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $21.60.

Several research analysts have recently commented on the company. Barrington Research reiterated an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a report on Friday, February 14th. StockNews.com raised shares of OPENLANE from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Stephens began coverage on shares of OPENLANE in a research report on Wednesday, January 22nd. They set an "equal weight" rating and a $20.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on OPENLANE from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th.

OPENLANE Trading Down 0.4 %

KAR stock traded down $0.08 during mid-day trading on Friday, reaching $20.05. The company's stock had a trading volume of 869,174 shares, compared to its average volume of 590,976. The stock has a market cap of $2.14 billion, a PE ratio of 77.10, a P/E/G ratio of 1.82 and a beta of 1.52. The company's 50 day moving average is $20.40 and its two-hundred day moving average is $18.48. OPENLANE has a fifty-two week low of $12.86 and a fifty-two week high of $21.51.

Hedge Funds Weigh In On OPENLANE

Hedge funds have recently bought and sold shares of the company. Clifford Capital Partners LLC acquired a new stake in shares of OPENLANE during the third quarter worth about $10,309,000. Geode Capital Management LLC lifted its holdings in OPENLANE by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer's stock worth $41,799,000 after buying an additional 35,214 shares in the last quarter. Barclays PLC boosted its position in OPENLANE by 344.7% in the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer's stock valued at $3,022,000 after buying an additional 138,720 shares during the period. Guidance Capital Inc. acquired a new position in shares of OPENLANE in the fourth quarter worth $472,000. Finally, River Road Asset Management LLC increased its position in shares of OPENLANE by 15.3% during the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer's stock worth $85,161,000 after acquiring an additional 671,104 shares during the period. Institutional investors and hedge funds own 99.76% of the company's stock.

OPENLANE Company Profile

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.