Brokerages Set OPENLANE, Inc. (NYSE:KAR) Target Price at $19.60

Shares of OPENLANE, Inc. (NYSE:KAR) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $19.60.

Several research analysts have weighed in on KAR shares. Robert W. Baird upped their target price on OPENLANE from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a research report on Monday, August 5th.

Institutional Investors Weigh In On OPENLANE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its position in shares of OPENLANE by 175.5% in the second quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 1,018 shares during the period. TFO Wealth Partners LLC lifted its position in OPENLANE by 16,018.2% during the 4th quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 1,762 shares during the last quarter. Quarry LP boosted its holdings in OPENLANE by 201.4% during the second quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 1,587 shares during the period. Innealta Capital LLC acquired a new stake in shares of OPENLANE in the second quarter valued at about $81,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of OPENLANE in the fourth quarter valued at about $164,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

OPENLANE Trading Up 0.1 %

Shares of NYSE KAR opened at $17.25 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. OPENLANE has a one year low of $12.86 and a one year high of $18.73. The business has a 50-day moving average price of $17.09 and a two-hundred day moving average price of $16.71. The firm has a market capitalization of $1.87 billion, a PE ratio of -9.63, a PEG ratio of 1.20 and a beta of 1.44.

OPENLANE (NYSE:KAR) last issued its earnings results on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). OPENLANE had a negative net margin of 9.04% and a positive return on equity of 8.53%. The company had revenue of $431.80 million for the quarter, compared to analyst estimates of $426.11 million. During the same period last year, the business earned $0.25 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts predict that OPENLANE will post 0.8 earnings per share for the current fiscal year.

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.