OPENLANE (NYSE:KAR) Price Target Raised to $29.00 at JPMorgan Chase & Co.

OPENLANE (NYSE:KAR) had its target price boosted by JPMorgan Chase & Co. from $28.00 to $29.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

KAR has been the topic of a number of other reports. Barrington Research upped their target price on shares of OPENLANE from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Weiss Ratings lowered OPENLANE from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Zacks Research upgraded OPENLANE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Stephens boosted their target price on OPENLANE from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.75.

OPENLANE Stock Up 0.5%

Shares of NYSE KAR traded up $0.13 during trading hours on Thursday, hitting $25.07. The company had a trading volume of 1,317,060 shares, compared to its average volume of 849,764. OPENLANE has a 1-year low of $17.08 and a 1-year high of $30.93. The firm’s 50 day moving average is $27.72 and its 200-day moving average is $25.22. The stock has a market capitalization of $2.67 billion, a P/E ratio of 33.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.33.

OPENLANE (NYSE:KAR) last posted its quarterly earnings results on Wednesday, November 5th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $498.40 million for the quarter, compared to analyst estimates of $464.40 million. OPENLANE had a net margin of 8.18% and a return on equity of 11.65%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. OPENLANE has set its FY 2025 guidance at 1.220-1.26 EPS. On average, sell-side analysts predict that OPENLANE will post 0.95 earnings per share for the current year.

Hedge Funds Weigh In On OPENLANE

A number of hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System boosted its holdings in OPENLANE by 9.0% in the 1st quarter. New York State Teachers Retirement System now owns 58,947 shares of the specialty retailer’s stock valued at $1,136,000 after purchasing an additional 4,880 shares during the period. Principal Financial Group Inc. increased its holdings in shares of OPENLANE by 2.7% during the first quarter. Principal Financial Group Inc. now owns 531,985 shares of the specialty retailer’s stock worth $10,257,000 after purchasing an additional 13,817 shares during the period. Nisa Investment Advisors LLC raised its position in shares of OPENLANE by 19.8% in the first quarter. Nisa Investment Advisors LLC now owns 3,575 shares of the specialty retailer’s stock valued at $69,000 after buying an additional 590 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of OPENLANE in the first quarter valued at approximately $531,000. Finally, Kathmere Capital Management LLC boosted its stake in shares of OPENLANE by 2.6% in the first quarter. Kathmere Capital Management LLC now owns 39,400 shares of the specialty retailer’s stock valued at $760,000 after buying an additional 1,000 shares during the period. 99.76% of the stock is owned by institutional investors.

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.