KAR Auction Services, Inc., together with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities. It also provides value-added services, such as auction related, transportation, reconditioning, inspection, title and repossession administration and remarketing, vehicle research, and analytical services, as well as data as a service. This segment sells its products and services through vehicle manufacturers, fleet companies, rental car companies, finance companies, and others. As of December 31, 2020, this segment had a network of 74 whole car auction facilities in North America. The AFC segment offers floorplan financing, a short-term inventory-secured financing to independent used vehicle dealers; and sells vehicle service contracts. The company provides wheel repair and hail catastrophe response services. It serves vehicle manufacturers, vehicle rental companies, financial institutions, commercial fleets and fleet management companies, and dealer customers. The company was formerly known as KAR Holdings, Inc. and changed its name to KAR Auction Services, Inc. in November 2009. KAR Auction Services, Inc. was founded in 2006 and is headquartered in Carmel, Indiana.
IPO Year: 2009
Exchange: NYSE
Website: karglobal.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/27/2025 | $23.00 → $20.00 | Overweight → Neutral | Analyst |
| 2/28/2025 | $20.00 → $26.00 | Equal-Weight → Overweight | Stephens |
| 1/22/2025 | $20.00 | Equal-Weight | Stephens |
| 4/10/2024 | $16.00 → $20.00 | Underperform → Neutral | BofA Securities |
| 1/9/2023 | $23.00 → $17.00 | Buy → Underperform | BofA Securities |
| 5/4/2022 | $20.00 | Market Perform → Market Outperform | CJS Securities |
| 2/28/2022 | $20.00 | Buy → Neutral | Northcoast |
| 2/25/2022 | Sell → Neutral | Guggenheim |
4 - OPENLANE, Inc. (0001395942) (Issuer)
3 - OPENLANE, Inc. (0001395942) (Issuer)
4 - OPENLANE, Inc. (0001395942) (Issuer)
4 - OPENLANE, Inc. (0001395942) (Issuer)
4 - OPENLANE, Inc. (0001395942) (Issuer)
4 - OPENLANE, Inc. (0001395942) (Issuer)
4 - OPENLANE, Inc. (0001395942) (Issuer)
4 - OPENLANE, Inc. (0001395942) (Issuer)
4 - OPENLANE, Inc. (0001395942) (Issuer)
4 - OPENLANE, Inc. (0001395942) (Issuer)
8-K - OPENLANE, Inc. (0001395942) (Filer)
8-K - OPENLANE, Inc. (0001395942) (Filer)
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8-K - OPENLANE, Inc. (0001395942) (Filer)
8-K - OPENLANE, Inc. (0001395942) (Filer)
8-K - OPENLANE, Inc. (0001395942) (Filer)
8-K - OPENLANE, Inc. (0001395942) (Filer)
8-K - OPENLANE, Inc. (0001395942) (Filer)
8-K - OPENLANE, Inc. (0001395942) (Filer)
Marketplace dealer volume growth of 15% YoYRevenue of $460 million, representing 7% YoY growth, driven by 10% YoY Marketplace growthIncome from continuing operations of $37 million, representing 99% YoY growthAdjusted EBITDA of $83 million, representing 11% YoY growthCash flow from operating activities of $123 million, representing 22% YoY growthAuthorized new $250 million share repurchase programCARMEL, Ind., May 7, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its first quarter financial results for the period ended March 31, 2025. "OPENLANE delivered a str
CARMEL, Ind., April 16, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its first quarter 2025 financial results after the market closes on Wednesday, May 7, 2025. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, May 7, 2025, at 5:00 p.m. ET. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Following
CARMEL, Ind., Feb. 19, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its fourth quarter and annual financial results for the period ended December 31, 2024. "OPENLANE delivered positive fourth quarter and full-year 2024 results, driven by another strong quarter in our marketplace business," said Peter Kelly, CEO. "The Marketplace grew year-over-year volume for the seventh straight quarter, including 15% growth in dealer volumes, and grew Adjusted EBITDA by an impressive 30%. Our customers are clearly responding to our unique offerings and our differentiated va
CARMEL, Ind., Jan. 29, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its fourth quarter and full year 2024 financial results after the market closes on Wednesday, Feb. 19, 2025. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, Feb. 19, 2025, at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking
CARMEL, Ind., Nov. 6, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its third quarter financial results for the period ended September 30, 2024. "OPENLANE delivered strong third quarter results while advancing a differentiated pipeline of innovation and expanding our investments in people, technology and the customer experience," said Peter Kelly, CEO of OPENLANE. "I'm particularly pleased with the performance of our marketplace business, which grew volumes, gross profit and adjusted EBITDA with positive contributions from our US, Canadian and European marketp
CARMEL, Ind., Oct. 16, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its third quarter 2024 financial results after the market closes on Wednesday, Nov. 6, 2024. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, Nov. 6, 2024, at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENL
CARMEL, Ind., Aug. 7, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its second quarter financial results for the period ended June 30, 2024. "OPENLANE's second quarter and year-to-date results clearly demonstrate the power of our differentiated platform and the strong scalability characteristics of our company," said Peter Kelly, CEO of OPENLANE. "During the quarter, we grew marketplace and finance volumes, increased revenue and delivered strong adjusted EBITDA and operating cash flows. I am confident in OPENLANE's strategy, we are investing in technology and
CARMEL, Ind., July 18, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its second quarter 2024 financial results after the market closes on Wednesday, August 7, 2024. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, August 7, 2024, at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the
CARMEL, Ind., May 1, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its first quarter financial results for the period ended March 31, 2024. "I am very pleased with OPENLANE's first quarter results and believe they represent a compelling preview of the performance OPENLANE is capable of delivering as the industry recovery continues" said Peter Kelly, CEO of OPENLANE. "The marketplace segment grew volumes by 13%, delivered 47% of total OPENLANE adjusted EBITDA and continued to take share from physical auctions. Our finance segment was also a strong contributor d
CARMEL, Ind., April 16, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its first quarter 2024 financial results after the market closes on Wednesday, May 1, 2024. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, May 1, 2024, at 4:30 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLA
4 - OPENLANE, Inc. (0001395942) (Issuer)
4 - OPENLANE, Inc. (0001395942) (Issuer)
New Director Brings C-Suite Track Record Driving Growth and Success CARMEL, Ind., June 20, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the appointment of Randy Altschuler to its board of directors. A seasoned entrepreneur and executive, Altschuler brings more than 20 years of experience leveraging technology, digital marketplaces and artificial intelligence (AI) to transform the manufacturing landscape. "We are delighted to welcome Randy to our Board," said Michael Kestner, Chair of OPENLANE.
Nationwide Search to Identify Successor; EVP and CFO Brad Lakhia to Assume Treasurer Role CARMEL, Ind., Feb. 27, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, announced that Mike Eliason, Treasurer and Vice President of Investor Relations, is retiring after more than 25 years at the company, effective June 1, 2024. Eliason will continue to serve in his position until a successor is named to ensure a seamless transition. OPENLANE will conduct a thorough national search process for Eliason's successor. Upo
Peter Kelly to Continue as CEO, Michael Kestner Named Chairman of the Board CARMEL, Ind., March 31, 2023 /PRNewswire/ -- KAR Auction Services, Inc. d/b/a KAR Global (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the retirement of executive chairman Jim Hallett. Hallett retains his seat on KAR's board of directors while stepping down from his roles as executive chairman for KAR and chairman of the board of directors. Michael Kestner, who has served as lead independent director since 2019, has been named chairman of KAR's board effective April 1, 2023, and Peter Kelly continues to serve as KAR's chief executive officer.
CHICAGO, Oct. 5, 2021 /PRNewswire/ -- Uptake, the leader in industrial intelligence software-as-a-service, announced today the appointment of its President, Kayne Grau, to the role of Chief Executive Officer along with his election to its Board of Directors. Founder Brad Keywell will transition to the role of Executive Chairman of the Board. Grau's expanded leadership role will focus on fortifying Uptake's unique industrial intelligence while enhancing the ease of deployment and speed to value of Uptake's products. Keywell will remain active in Uptake's growth, continuing to establish and expand strategic relationships with customers, partners, and industry.
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Analyst downgraded OPENLANE from Overweight to Neutral and set a new price target of $20.00 from $23.00 previously
Stephens upgraded OPENLANE from Equal-Weight to Overweight and set a new price target of $26.00 from $20.00 previously
Stephens initiated coverage of OPENLANE with a rating of Equal-Weight and set a new price target of $20.00
BofA Securities upgraded OPENLANE from Underperform to Neutral and set a new price target of $20.00 from $16.00 previously
BofA Securities downgraded KAR Auction Services from Buy to Underperform and set a new price target of $17.00 from $23.00 previously
CJS Securities upgraded KAR Auction Services from Market Perform to Market Outperform and set a new price target of $20.00
Northcoast downgraded KAR Auction Services from Buy to Neutral and set a new price target of $20.00
Guggenheim upgraded KAR Auction Services from Sell to Neutral
BofA Securities upgraded KAR Auction Services from Underperform to Buy and set a new price target of $26.00 from $15.00 previously
B of A Securities upgraded KAR Auction Services from Neutral to Buy
Marketplace dealer volume growth of 15% YoYRevenue of $460 million, representing 7% YoY growth, driven by 10% YoY Marketplace growthIncome from continuing operations of $37 million, representing 99% YoY growthAdjusted EBITDA of $83 million, representing 11% YoY growthCash flow from operating activities of $123 million, representing 22% YoY growthAuthorized new $250 million share repurchase programCARMEL, Ind., May 7, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its first quarter financial results for the period ended March 31, 2025. "OPENLANE delivered a str
Bolsters Leadership Bench With More Than 30 Years of Financial Management and Investor Relations Expertise CARMEL, Ind., April 22, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the company has named Brad Herring as EVP and Chief Financial Officer effective May 27, 2025. Herring will be responsible for leading all financial, reporting and investor-facing functions across OPENLANE, including the company's capital investment strategy. Herring also joins OPENLANE's executive team and will report to CEO Peter Kelly.
CARMEL, Ind., April 16, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its first quarter 2025 financial results after the market closes on Wednesday, May 7, 2025. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, May 7, 2025, at 5:00 p.m. ET. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Following
CARMEL, Ind., Feb. 19, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its fourth quarter and annual financial results for the period ended December 31, 2024. "OPENLANE delivered positive fourth quarter and full-year 2024 results, driven by another strong quarter in our marketplace business," said Peter Kelly, CEO. "The Marketplace grew year-over-year volume for the seventh straight quarter, including 15% growth in dealer volumes, and grew Adjusted EBITDA by an impressive 30%. Our customers are clearly responding to our unique offerings and our differentiated va
CARMEL, Ind., Jan. 29, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its fourth quarter and full year 2024 financial results after the market closes on Wednesday, Feb. 19, 2025. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, Feb. 19, 2025, at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking
CARMEL, Ind., Nov. 7, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will host a virtual Investor Update on Tuesday, November 19, 2024, at 10:00 a.m. ET. The event is expected to conclude at 10:45 a.m. ET. During the event, CEO Peter Kelly and members of OPENLANE's leadership team will discuss OPENLANE's strategy and review enhanced disclosures and metrics for the finance business (AFC). An interactive Q&A session will follow the presentations. A video webcast will be available at the investor relations s
CARMEL, Ind., Nov. 6, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its third quarter financial results for the period ended September 30, 2024. "OPENLANE delivered strong third quarter results while advancing a differentiated pipeline of innovation and expanding our investments in people, technology and the customer experience," said Peter Kelly, CEO of OPENLANE. "I'm particularly pleased with the performance of our marketplace business, which grew volumes, gross profit and adjusted EBITDA with positive contributions from our US, Canadian and European marketp
CARMEL, Ind., Oct. 16, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its third quarter 2024 financial results after the market closes on Wednesday, Nov. 6, 2024. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, Nov. 6, 2024, at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENL
New Code Boost IQ Exploits Data Moat to Empower US Dealers with Smarter, Faster Purchase Decisions CARMEL, Ind., Aug. 15, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the launch of Code Boost IQ, a first-of-its-kind vehicle inspection enhancement that enables faster, better informed decision-making for dealers. Industry-standard "On-Board Diagnostics II" (OBD2) scans detect thousands of alphanumeric diagnostic codes that indicate potential mechanical or electrical issues. Code Boost IQ leverages artificial intelligence, the company's analytics engine and millions of internal data points to translate flagged
CARMEL, Ind., Aug. 7, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its second quarter financial results for the period ended June 30, 2024. "OPENLANE's second quarter and year-to-date results clearly demonstrate the power of our differentiated platform and the strong scalability characteristics of our company," said Peter Kelly, CEO of OPENLANE. "During the quarter, we grew marketplace and finance volumes, increased revenue and delivered strong adjusted EBITDA and operating cash flows. I am confident in OPENLANE's strategy, we are investing in technology and