OPENLANE (NYSE:KAR) Shares Cross Above 200-Day Moving Average - Here's Why

OPENLANE, Inc. (NYSE:KAR - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $18.30 and traded as high as $20.50. OPENLANE shares last traded at $20.46, with a volume of 546,888 shares traded.

Analysts Set New Price Targets

Several analysts have recently weighed in on KAR shares. JPMorgan Chase & Co. boosted their price objective on shares of OPENLANE from $21.00 to $23.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 20th. StockNews.com cut OPENLANE from a "buy" rating to a "hold" rating in a research report on Sunday, January 19th. Stephens started coverage on OPENLANE in a research note on Wednesday, January 22nd. They set an "equal weight" rating and a $20.00 price target on the stock. Finally, Barrington Research reissued an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, OPENLANE currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.60.

OPENLANE Price Performance

The company has a 50 day moving average price of $20.33 and a 200 day moving average price of $18.35. The firm has a market cap of $2.21 billion, a PE ratio of 79.62, a PEG ratio of 1.84 and a beta of 1.52.

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

Insider Transactions at OPENLANE

In other OPENLANE news, CFO Brad S. Lakhia bought 4,985 shares of OPENLANE stock in a transaction on Wednesday, November 13th. The stock was bought at an average price of $20.06 per share, with a total value of $99,999.10. Following the completion of the acquisition, the chief financial officer now owns 14,303 shares in the company, valued at $286,918.18. The trade was a 53.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.32% of the company's stock.

Institutional Trading of OPENLANE

Institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its position in OPENLANE by 435.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 2,062 shares in the last quarter. KBC Group NV raised its stake in shares of OPENLANE by 51.1% during the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock worth $105,000 after buying an additional 1,798 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of OPENLANE in the 4th quarter worth about $187,000. Creative Planning purchased a new position in OPENLANE during the 3rd quarter valued at about $193,000. Finally, Versor Investments LP acquired a new position in OPENLANE during the fourth quarter worth about $254,000. Hedge funds and other institutional investors 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.