OPENLANE, Inc. (NYSE:KAR) Given Consensus Rating of "Moderate Buy" by Brokerages

OPENLANE, Inc. (NYSE:KAR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the five brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $21.60.

A number of research firms have weighed in on KAR. JPMorgan Chase & Co. raised their price target on OPENLANE from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Wednesday, November 20th. StockNews.com downgraded OPENLANE from a "buy" rating to a "hold" rating in a research note on Sunday. Barrington Research restated an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a research note on Monday, November 4th. Finally, Stephens began coverage on OPENLANE in a research note on Wednesday. They issued an "equal weight" rating and a $20.00 price target for the company.

OPENLANE Stock Up 1.2 %

Shares of NYSE:KAR traded up $0.25 during mid-day trading on Wednesday, reaching $20.59. 454,715 shares of the stock were exchanged, compared to its average volume of 536,651. The company has a market cap of $2.20 billion, a P/E ratio of 79.18, a P/E/G ratio of 1.82 and a beta of 1.52. OPENLANE has a one year low of $12.86 and a one year high of $20.85. The stock's 50 day simple moving average is $20.17 and its 200-day simple moving average is $18.11.

OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The business had revenue of $448.00 million during the quarter, compared to the consensus estimate of $431.68 million. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. OPENLANE's quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. Analysts anticipate that OPENLANE will post 0.84 EPS for the current fiscal year.

Insider Activity

In other news, CFO Brad S. Lakhia purchased 4,985 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average cost of $20.06 per share, with a total value of $99,999.10. Following the acquisition, the chief financial officer now owns 14,303 shares in the company, valued at approximately $286,918.18. This trade represents a 53.50 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.32% of the company's stock.

Institutional Trading of OPENLANE

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in OPENLANE in the 2nd quarter valued at $3,243,000. Public Sector Pension Investment Board raised its holdings in OPENLANE by 7.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 238,336 shares of the specialty retailer's stock valued at $3,954,000 after acquiring an additional 16,929 shares in the last quarter. Bank of Montreal Can raised its holdings in OPENLANE by 274.1% in the 2nd quarter. Bank of Montreal Can now owns 42,563 shares of the specialty retailer's stock valued at $707,000 after acquiring an additional 31,186 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in OPENLANE in the 2nd quarter valued at $233,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in OPENLANE by 14.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,441,923 shares of the specialty retailer's stock valued at $23,922,000 after acquiring an additional 181,130 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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.