1 week Ago By ABMN Staff
StockNews.com downgraded shares of OPENLANE ( NYSE:KAR – Free Report ) from a buy rating to a hold rating in a report released on Friday morning. Other equities analysts also recently issued research reports about the company.
Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of OPENLANE in a research report on Monday, November 4th. JPMorgan Chase & Co.
upped their price target on shares of OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th.
Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, OPENLANE presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.
Get Our Latest Research Report on OPENLANE OPENLANE Trading Down 0.7 % OPENLANE ( NYSE:KAR – Get Free Report ) last announced its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.
26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04.
The business 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%.
The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.
18 earnings per share. As a group, sell-side analysts predict that OPENLANE will post 0.84 earnings per share for the current fiscal year.
Insiders Place Their Bets In other OPENLANE news, CFO Brad S. Lakhia bought 4,985 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were acquired at an average price of $20.
06 per share, with a total value of $99,999.10. Following the transaction, the chief financial officer now owns 14,303 shares of the company’s stock, valued at approximately $286,918.
18. This trade represents a 53.50 % increase in their position.
The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink . 2.32% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On OPENLANE A number of hedge funds and other institutional investors have recently modified their holdings of KAR. Quarry LP boosted its position 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 purchasing an additional 1,587 shares in the last quarter. Creative Planning purchased a new stake in shares of OPENLANE during the third quarter valued at about $193,000. MQS Management LLC bought a new stake in shares of OPENLANE in the 2nd quarter valued at about $204,000.
Versor Investments LP bought a new stake in shares of OPENLANE in the 2nd quarter valued at about $213,000. Finally, Deerfield Management Company L.P.
Series C purchased a new position in shares of OPENLANE in the 2nd quarter worth approximately $233,000. 99.76% of the stock is currently owned by institutional investors.
OPENLANE Company Profile ( Get Free Report ) 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.
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