Analysts Set OPENLANE, Inc. (NYSE:KAR) Target Price at $22.20

Shares of OPENLANE, Inc. (NYSE:KAR - Get Free Report) have earned an average rating of "Moderate Buy" from the four research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $22.75.

A number of research firms recently issued reports on KAR. Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $20.00 to $26.00 in a report on Friday, February 28th. StockNews.com lowered shares of OPENLANE from a "buy" rating to a "hold" rating in a research note on Friday, March 28th. Barrington Research reiterated an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. downgraded OPENLANE from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $23.00 to $20.00 in a research report on Thursday, March 27th.

OPENLANE Price Performance

Shares of NYSE KAR traded up $0.29 during midday trading on Monday, reaching $18.61. The company's stock had a trading volume of 581,116 shares, compared to its average volume of 737,645. The stock has a market capitalization of $1.99 billion, a P/E ratio of 35.10, a PEG ratio of 1.85 and a beta of 1.38. The firm has a 50 day moving average price of $20.35 and a 200-day moving average price of $19.42. OPENLANE has a 12-month low of $15.44 and a 12-month high of $22.47.

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OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The business had revenue of $455.00 million for the quarter, compared to analysts' expectations of $416.64 million. On average, equities analysts predict that OPENLANE will post 0.95 EPS for the current year.

Institutional Trading of OPENLANE

A number of institutional investors have recently modified their holdings of KAR. Canada Pension Plan Investment Board bought a new stake in OPENLANE during the 4th quarter valued at $34,000. Quarry LP grew its position in shares of OPENLANE by 414.6% in the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock valued at $43,000 after purchasing an additional 1,758 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of OPENLANE by 435.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 2,062 shares during the period. Johnson Financial Group Inc. purchased a new stake in OPENLANE during the 4th quarter worth about $68,000. Finally, KBC Group NV boosted its stake in OPENLANE by 51.1% in the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock worth $105,000 after purchasing an additional 1,798 shares during the period. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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.