KAR Auction ServicesNYSE: KAR

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.

"Absolute Sale" Delivers Increased Velocity, Higher Engagement, Better Results CARMEL, Ind. , June 4, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces Absolute Sale, a new sale format that enables sellers to signal they are committed to selling a vehicle to the highest offer that day.

OPENLANE, Inc. (NYSE:KAR) Q1 2024 Earnings Conference Call on May 1, 2024 at 4:30 PM ET featured Company Representatives Mike Eliason, Peter Kelly, and Brad Lakhia, along with several Conference Call Participants including Rajat Gupta, John Murphy, and Gary Prestopino. The Operator opened the call by welcoming everyone to the OPENLANE First Quarter 2024 Earnings Conference Call.

OPENLANE (KAR) reported quarterly earnings of $0.19 per share, falling short of the Zacks Consensus Estimate of $0.21 per share. This is compared to earnings of $0.12 per share in the same quarter last year.

From a technical perspective, OPENLANE, Inc. (KAR) is looking like an interesting pick, as it just reached a key level of support. KAR's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.

Investors interested in Automotive - Original Equipment stocks are likely familiar with OPENLANE (KAR) and Mobileye Global (MBLY). But which of these two stocks presents investors with the better value opportunity right now?

OPENLANE (KAR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Here is how OPENLANE (KAR) and Mercedes-Benz Group AG (MBGAF) have performed compared to their sector so far this year.

OPENLANE (KAR) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.