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

OPENLANE (NYSE:KAR) had its target price boosted by Robert W. Baird from $18.00 to $20.00 in a report released on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the specialty retailer’s stock.

Several other analysts have also recently issued reports on KAR. Barrington Research reiterated an outperform rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Wednesday, February 21st. Bank of America raised OPENLANE from an underperform rating to a neutral rating and increased their price target for the company from $16.00 to $20.00 in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $19.60.

OPENLANE Stock Up 0.6 %

NYSE:KAR opened at $17.69 on Thursday. OPENLANE has a 52 week low of $12.86 and a 52 week high of $17.85. The stock’s fifty day moving average is $16.72 and its two-hundred day moving average is $15.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.15.

OPENLANE (NYSE:KAR) last posted its earnings results on Wednesday, May 1st. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). OPENLANE had a positive return on equity of 8.53% and a negative net margin of 9.04%. The firm had revenue of $416.30 million for the quarter, compared to analyst estimates of $425.19 million. During the same period in the previous year, the company posted $0.12 EPS. OPENLANE’s revenue was down 1.0% on a year-over-year basis. Research analysts predict that OPENLANE will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling at OPENLANE

In other OPENLANE news, CEO Peter J. Kelly acquired 10,000 shares of the stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $14.87 per share, with a total value of $148,700.00. Following the transaction, the chief executive officer now owns 323,355 shares in the company, valued at approximately $4,808,288.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Peter J. Kelly acquired 10,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were bought at an average price of $14.87 per share, with a total value of $148,700.00. Following the completion of the acquisition, the chief executive officer now owns 323,355 shares in the company, valued at $4,808,288.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James E. Money II sold 14,822 shares of the company’s stock in a transaction on 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 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.

Institutional Investors Weigh In On OPENLANE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC increased its holdings in shares of OPENLANE by 16,018.2% in the 4th quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 1,762 shares during the period. Allspring Global Investments Holdings LLC increased its stake in OPENLANE by 51.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 1,171 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of OPENLANE in the fourth quarter valued at about $164,000. Oak Thistle LLC acquired a new stake in shares of OPENLANE during the fourth quarter worth about $190,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of OPENLANE during the first quarter worth about $242,000. Hedge funds and other 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.