OPENLANE, Inc. (NYSE:KAR) Given Consensus Rating of “Moderate Buy” by Analysts

OPENLANE, Inc. (NYSE:KAR) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $21.60.

KAR has been the topic of a number of recent research reports. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a research report on Friday. JPMorgan Chase & Co. increased their price objective on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Stephens started coverage on OPENLANE in a research note on Wednesday, January 22nd. They set an “equal weight” rating and a $20.00 price objective for the company. Finally, StockNews.com raised OPENLANE from a “hold” rating to a “buy” rating in a research note on Friday.

Institutional Trading of OPENLANE

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new stake in OPENLANE in the fourth quarter worth $34,000. Quarry LP lifted its stake in OPENLANE by 414.6% in the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer’s stock worth $43,000 after acquiring an additional 1,758 shares during the period. Smartleaf Asset Management LLC lifted its stake in OPENLANE by 435.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 2,062 shares during the period. Johnson Financial Group Inc. purchased a new stake in OPENLANE in the fourth quarter worth $68,000. Finally, KBC Group NV lifted its stake in OPENLANE by 51.1% in the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock worth $105,000 after acquiring an additional 1,798 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.

OPENLANE Price Performance

Shares of NYSE KAR opened at $20.61 on Friday. OPENLANE has a one year low of $12.86 and a one year high of $21.51. The firm’s 50 day simple moving average is $20.40 and its two-hundred day simple moving average is $18.46. The stock has a market capitalization of $2.20 billion, a P/E ratio of 79.25, a PEG ratio of 1.84 and a beta of 1.52.

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.