OPENLANE (NYSE:KAR) Issues Earnings Results, Beats Estimates By $0.05 EPS

OPENLANE (NYSE:KAR) issued its earnings results on Wednesday. The specialty retailer reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05, Zacks reports. The firm had revenue of $498.40 million for the quarter, compared to analyst estimates of $464.40 million. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. OPENLANE updated its FY 2025 guidance to 1.220-1.26 EPS.

OPENLANE Price Performance

Shares of NYSE KAR traded up $0.06 during mid-day trading on Friday, reaching $25.00. 751,184 shares of the company traded hands, compared to its average volume of 846,947. OPENLANE has a fifty-two week low of $17.08 and a fifty-two week high of $30.93. The firm has a market cap of $2.66 billion, a PE ratio of 33.78, a price-to-earnings-growth ratio of 1.81 and a beta of 1.33. The stock has a fifty day simple moving average of $27.72 and a 200-day simple moving average of $25.22.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stephens upped their price target on shares of OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 10th. Barrington Research boosted their target price on shares of OPENLANE from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Zacks Research upgraded shares of OPENLANE from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Weiss Ratings cut OPENLANE from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, JPMorgan Chase & Co. boosted their price objective on OPENLANE from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.75.

Hedge Funds Weigh In On OPENLANE

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC acquired a new stake in shares of OPENLANE in the second quarter valued at $221,000. Bayesian Capital Management LP acquired a new position in OPENLANE during the second quarter worth about $222,000. Tower Research Capital LLC TRC raised its position in OPENLANE by 318.1% in the second quarter. Tower Research Capital LLC TRC now owns 11,066 shares of the specialty retailer’s stock worth $271,000 after acquiring an additional 8,419 shares in the last quarter. Royal Bank of Canada raised its position in OPENLANE by 105.1% in the first quarter. Royal Bank of Canada now owns 33,562 shares of the specialty retailer’s stock worth $647,000 after acquiring an additional 17,197 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in OPENLANE by 27.5% in the 2nd quarter. Cerity Partners LLC now owns 35,087 shares of the specialty retailer’s stock valued at $858,000 after acquiring an additional 7,561 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

OPENLANE Company Profile

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.