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

OPENLANE, Inc. (NYSE:KAR) has received an average rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $19.60.

A number of research firms have recently commented on KAR. Barrington Research restated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a research report on Thursday, May 2nd. Robert W. Baird boosted 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. Finally, Bank of America raised OPENLANE from an “underperform” rating to a “neutral” rating and raised their price target for the company from $16.00 to $20.00 in a report on Wednesday, April 10th.

Insider Activity at OPENLANE

In other news, EVP James P. Coyle sold 6,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $18.09, for a total transaction of $108,540.00. Following the transaction, the executive vice president now directly owns 23,885 shares in the company, valued at approximately $432,079.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.32% of the stock is owned by insiders.

Institutional Investors Weigh In On OPENLANE

A number of hedge funds and other institutional investors have recently modified their holdings of KAR. Burgundy Asset Management Ltd. boosted its holdings in shares of OPENLANE by 1.0% during the first quarter. Burgundy Asset Management Ltd. now owns 8,775,701 shares of the specialty retailer’s stock worth $151,820,000 after purchasing an additional 84,835 shares during the period. Dimensional Fund Advisors LP grew its position in shares of OPENLANE by 6.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,059,333 shares of the specialty retailer’s stock worth $104,550,000 after buying an additional 399,073 shares during the last quarter. Hawk Ridge Capital Management LP grew its position in shares of OPENLANE by 5.3% in the 4th quarter. Hawk Ridge Capital Management LP now owns 3,900,178 shares of the specialty retailer’s stock worth $57,762,000 after buying an additional 195,200 shares during the last quarter. Sunriver Management LLC increased its stake in shares of OPENLANE by 729.7% during the fourth quarter. Sunriver Management LLC now owns 2,338,093 shares of the specialty retailer’s stock valued at $34,627,000 after buying an additional 2,056,280 shares during the period. Finally, Invenomic Capital Management LP raised its holdings in shares of OPENLANE by 277.0% during the first quarter. Invenomic Capital Management LP now owns 1,529,680 shares of the specialty retailer’s stock valued at $26,463,000 after acquiring an additional 1,123,953 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

OPENLANE Stock Down 0.2 %

KAR stock opened at $16.36 on Monday. The stock has a 50-day simple moving average of $17.13 and a two-hundred day simple moving average of $15.95. OPENLANE has a twelve month low of $12.86 and a twelve month high of $18.41. The firm has a market capitalization of $1.77 billion, a PE ratio of -9.14, a PEG ratio of 1.10 and a beta of 1.46. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.15.

OPENLANE (NYSE:KAR) last issued its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). The firm had revenue of $416.30 million for the quarter, compared to analysts’ expectations of $425.19 million. OPENLANE had a negative net margin of 9.04% and a positive return on equity of 8.53%. OPENLANE’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 EPS. On average, equities analysts predict that OPENLANE will post 0.81 EPS 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.