Stocks of Openlane Inc (NYSE:KAR) traded higher last session on Wall Street, up 1.50% to $20.28.
KAR stock price is now 3.87% away from the 50-day moving average and 15.02% away from the 200-day moving average. The market capitalization of the company currently stands at $2.17B.
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With the price target enhanced from $16 to $20, BofA Securities Upgraded its rating from Underperform to Neutral for Openlane Inc (NYSE: KAR). On January 09, 2023, BofA Securities Downgraded its previous ‘Buy’ rating to ‘Underperform’ on the stock reducing its target price from $23 to quote $17, while ‘CJS Securities’ rates the stock as ‘Market Outperform’
In other news, Lakhia Brad S., EVP & CFO bought 4,985 shares of the company’s stock on Nov 13 ’24. The stock was bought for $99,999 at an average price of $20.06. Upon completion of the transaction, the EVP & CFO now directly owns 14,303 shares in the company, valued at $0.29 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 15 ’24, EVP, President NA Marketplaces Coyle James P sold 6,000 shares of the business’s stock. A total of $108,540 was realized by selling the stock at an average price of $18.09. This leaves the insider owning 23,885 shares of the company worth $0.48 million. A total of 1.68% of the company’s stock is owned by insiders.
During the past 12 months, Openlane Inc has had a low of $12.86 and a high of $20.85. As of last week, the company has a debt-to-equity ratio of 0.96, a current ratio of 1.08, and a quick ratio of 1.08. According to the stock market information, the enterprise value for the company is $4507902464, which is based on a 107.30 price-to-earnings ratio, a 9.78 price-to-earnings-growth ratio, and a beta of 1.53. The fifty day moving average price for KAR is $19.5244 and a two-hundred day moving average price translates $17.63245 for the stock.
The latest earnings results from Openlane Inc (NYSE: KAR) was released for 2024-09-30. The net profit margin was 1.27% and return on equity was 3.38% for KAR. The company reported revenue of $448.4 million for the quarter, compared to $416.3 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.71 percent.
