OPENLANE (NYSE:KAR) Upgraded at StockNews.com

StockNews.com upgraded shares of OPENLANE (NYSE:KAR) from a hold rating to a buy rating in a research report report published on Thursday morning.

Several other brokerages have also recently weighed in on KAR. Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $20.00 to $26.00 in a research note on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their target price on OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, OPENLANE currently has an average rating of “Moderate Buy” and a consensus target price of $22.80.

OPENLANE Stock Performance

NYSE:KAR opened at $20.62 on Thursday. The stock has a fifty day moving average price of $20.76 and a 200-day moving average price of $19.12. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 1.85 and a beta of 1.53. OPENLANE has a fifty-two week low of $15.44 and a fifty-two week high of $22.47.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The business had revenue of $455.00 million during the quarter, compared to the consensus estimate of $416.64 million. Research analysts predict that OPENLANE will post 0.95 EPS for the current fiscal year.

Institutional Trading of OPENLANE

A number of hedge funds have recently made changes to their positions in KAR. Burgundy Asset Management Ltd. grew its holdings in shares of OPENLANE by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 9,278,497 shares of the specialty retailer’s stock worth $184,085,000 after purchasing an additional 153,975 shares during the last quarter. Geode Capital Management LLC boosted its position in OPENLANE by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock valued at $41,799,000 after buying an additional 35,214 shares during the period. Brown Advisory Inc. bought a new stake in OPENLANE in the 4th quarter worth $43,941,000. Charles Schwab Investment Management Inc. increased its position in shares of OPENLANE by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock valued at $29,708,000 after acquiring an additional 6,469 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of OPENLANE by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,493,988 shares of the specialty retailer’s stock valued at $29,641,000 after acquiring an additional 35,164 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

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.