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

OPENLANE, Inc. (NYSE:KAR) has been given an average rating of “Moderate Buy” by the five ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $21.60.

Several equities analysts have commented on the company. StockNews.com raised OPENLANE from a “hold” rating to a “buy” rating in a research report on Friday. Barrington Research restated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a report on Friday. JPMorgan Chase & Co. raised their price target on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Finally, Stephens assumed coverage on OPENLANE in a report on Wednesday, January 22nd. They set an “equal weight” rating and a $20.00 price target for the company.

Institutional Investors Weigh In On OPENLANE

Several large investors have recently bought and sold shares of the business. Verdence Capital Advisors LLC increased its holdings in OPENLANE by 5.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 15,822 shares of the specialty retailer’s stock worth $267,000 after buying an additional 793 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in OPENLANE by 0.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 112,320 shares of the specialty retailer’s stock worth $1,896,000 after buying an additional 1,018 shares in the last quarter. Bank of Montreal Can increased its holdings in OPENLANE by 9.6% in the 4th quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer’s stock worth $263,000 after buying an additional 1,161 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in OPENLANE by 6.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer’s stock worth $403,000 after buying an additional 1,472 shares in the last quarter. Finally, Carolina Wealth Advisors LLC increased its holdings in OPENLANE by 3.7% in the 4th quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer’s stock worth $832,000 after buying an additional 1,477 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

OPENLANE Trading Up 0.2 %

Shares of OPENLANE stock opened at $20.61 on Friday. The firm has a market capitalization of $2.20 billion, a P/E ratio of 79.25, a P/E/G ratio of 1.84 and a beta of 1.52. The business has a fifty day simple moving average of $20.40 and a two-hundred day simple moving average of $18.46. OPENLANE has a 12 month low of $12.86 and a 12 month high of $21.51.

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.