At the time of writing, Openlane Inc. [KAR] stock is trading at $15.06, up 2.73%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The KAR shares have gain 3.72% over the last week, with a monthly amount glided 5.98%, and seem to be holding up well over a long-time horizon.
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On 20, February 2024, OPENLANE, Inc. Reports 2023 Financial Results. In a post published today on Yahoo Finance, OPENLANE, Inc. (NYSE: KAR), today reported its fourth quarter and annual financial results for the period ended December 31, 2023.
From an analyst’s perspective:
Openlane Inc. [NYSE: KAR] stock has seen the most recent analyst activity on January 09, 2023, when BofA Securities downgraded its rating to a Underperform and also revised its price target to $17 from $23. Previously, CJS Securities upgraded its rating to Market Outperform on May 04, 2022, and kept the price target unchanged to $20. On February 28, 2022, downgrade downgraded it’s rating to Neutral but maintained its price target of $20 on the stock. Guggenheim upgraded its rating to a Neutral. BofA Securities upgraded its rating to a Buy and raised its price target to $26 on May 21, 2021. Stephens downgraded its rating to Equal-Weight for this stock on February 18, 2021, and downed its price target to $16. In a note dated February 17, 2021, Truist downgraded an Hold rating on this stock but restated the target price of $19.
For the past year, the stock price of Openlane Inc. fluctuated between $12.19 and $16.49. Openlane Inc. [NYSE: KAR] shares were valued at $15.06 at the most recent close of the market.
Analyzing the KAR fundamentals
According to Openlane Inc. [NYSE:KAR], the company’s sales were 1.65B for trailing twelve months, which represents an 4.96% jump. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 14.78 points at the first support level, and at 14.51 for the second support level. However, for the 1st resistance point, the stock is sitting at 15.21, and for the 2nd resistance point, it is at 15.36.
Openlane Inc. [KAR] reported earnings per share of $0.16 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.13/share, meaning a difference of $0.03 and a surprise factor of 23.10%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.18 per share as compared to estimates of $0.15 per share, a difference of $0.03 representing a surprise of 20.00%.
Ratios To Look Out For
It is important to note that Openlane Inc. [NYSE:KAR] has a current ratio of 1.15. Also, the Quick Ratio is 1.15, while the Cash Ratio stands at 0.05. Considering the valuation of this stock, the price to sales ratio is 0.99, the price to book ratio is 1.23.
