Robert W. Baird Raises OPENLANE (NYSE:KAR) Price Target to $20.00

OPENLANE (NYSE:KAR) had its price target lifted by research analysts at Robert W. Baird from $18.00 to $20.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the specialty retailer’s stock. Robert W. Baird’s price target indicates a potential upside of 14.61% from the stock’s current price.

Several other analysts have also weighed in on the stock. Bank of America upgraded shares of OPENLANE from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $16.00 to $20.00 in a research note on Wednesday, April 10th. Barrington Research reiterated an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, OPENLANE presently has an average rating of “Moderate Buy” and an average target price of $19.60.

OPENLANE Trading Up 1.6 %

KAR opened at $17.45 on Thursday. The stock has a market capitalization of $1.89 billion, a PE ratio of -9.54, a P/E/G ratio of 0.93 and a beta of 1.42. The firm’s fifty day moving average price is $16.61 and its 200 day moving average price is $15.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.15 and a quick ratio of 1.15. OPENLANE has a 12-month low of $12.86 and a 12-month high of $17.79.

OPENLANE (NYSE:KAR) last posted its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $391.30 million for the quarter, compared to analysts’ expectations of $392.56 million. OPENLANE had a negative net margin of 9.37% and a positive return on equity of 7.49%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. As a group, research analysts expect that OPENLANE will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling at OPENLANE

In other news, insider James E. Money II sold 14,822 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $15.83, for a total transaction of $234,632.26. Following the completion of the transaction, the insider now owns 44,604 shares in the company, valued at $706,081.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Peter J. Kelly purchased 10,000 shares of the stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the completion of the transaction, the chief executive officer now owns 323,355 shares of the company’s stock, valued at $4,808,288.85. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James E. Money II sold 14,822 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $15.83, for a total transaction of $234,632.26. Following the transaction, the insider now owns 44,604 shares of the company’s stock, valued at approximately $706,081.32. The disclosure for this sale can be found here. 2.74% of the stock is owned by insiders.

Hedge Funds Weigh In On OPENLANE

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in OPENLANE by 51.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 1,171 shares during the period. TFO Wealth Partners LLC increased its stake 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 valued at $26,000 after buying an additional 1,762 shares during the period. New York State Teachers Retirement System increased its stake in OPENLANE by 3.0% during the 3rd quarter. New York State Teachers Retirement System now owns 60,532 shares of the specialty retailer’s stock valued at $903,000 after buying an additional 1,765 shares during the period. Illinois Municipal Retirement Fund increased its stake in OPENLANE by 3.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 65,179 shares of the specialty retailer’s stock valued at $965,000 after buying an additional 1,891 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of OPENLANE by 11.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,716 shares of the specialty retailer’s stock valued at $292,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

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.