OPENLANE (NYSE:KAR) Lowered to “Hold” Rating by StockNews.com

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

Several other brokerages also recently weighed in on KAR. Stephens upgraded OPENLANE from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $20.00 to $26.00 in a report on Friday, February 28th. JPMorgan Chase & Co. lowered OPENLANE from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $20.00 in a research note on Thursday. Finally, Barrington Research reissued an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.20.

OPENLANE Stock Down 0.4 %

Shares of NYSE:KAR opened at $19.27 on Friday. The company has a market capitalization of $2.06 billion, a P/E ratio of 36.35, a P/E/G ratio of 1.85 and a beta of 1.53. OPENLANE has a 52-week low of $15.44 and a 52-week high of $22.47. The stock’s fifty day simple moving average is $20.78 and its 200-day simple moving average is $19.23.

OPENLANE (NYSE:KAR) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $416.64 million. OPENLANE had a net margin of 6.27% and a return on equity of 9.20%. On average, sell-side analysts anticipate that OPENLANE will post 0.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in OPENLANE by 50.8% during the 3rd quarter. Victory Capital Management Inc. now owns 32,759 shares of the specialty retailer’s stock worth $553,000 after purchasing an additional 11,039 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in OPENLANE by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer’s stock worth $29,708,000 after buying an additional 6,469 shares during the period. Quantbot Technologies LP increased its position in shares of OPENLANE by 33.3% in the third quarter. Quantbot Technologies LP now owns 33,734 shares of the specialty retailer’s stock worth $569,000 after acquiring an additional 8,419 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of OPENLANE by 6.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer’s stock valued at $403,000 after acquiring an additional 1,472 shares during the period. Finally, PDT Partners LLC lifted its holdings in shares of OPENLANE by 128.7% during the 3rd quarter. PDT Partners LLC now owns 38,852 shares of the specialty retailer’s stock valued at $656,000 after acquiring an additional 21,866 shares in the last quarter. 99.76% of the stock is owned by hedge funds and other 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.