OPENLANE (NYSE:KAR) Stock Rating Upgraded by StockNews.com

OPENLANE (NYSE:KAR) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other research analysts have also recently commented on KAR. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, OPENLANE has an average rating of “Moderate Buy” and a consensus price target of $22.00.

OPENLANE Stock Up 0.8 %

OPENLANE stock opened at $20.50 on Thursday. OPENLANE has a 52-week low of $12.86 and a 52-week high of $20.85. The firm has a market cap of $2.19 billion, a PE ratio of 78.85, a price-to-earnings-growth ratio of 2.05 and a beta of 1.53. The company’s 50 day moving average is $18.88 and its two-hundred day moving average is $17.58.

OPENLANE (NYSE:KAR) last released its earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $448.00 million during the quarter, compared to analyst estimates of $431.68 million. OPENLANE had a return on equity of 8.67% and a net margin of 4.26%. OPENLANE’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. On average, equities research analysts anticipate that OPENLANE will post 0.84 earnings per share for the current fiscal year.

Insider Activity

In other OPENLANE news, CFO Brad S. Lakhia bought 4,985 shares of the stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $20.06 per share, for a total transaction of $99,999.10. Following the completion of the transaction, the chief financial officer now owns 14,303 shares in the company, valued at approximately $286,918.18. The trade was a 53.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.32% of the company’s stock.

Institutional Trading of OPENLANE

A number of large investors have recently bought and sold shares of the business. Burgundy Asset Management Ltd. raised its holdings in shares of OPENLANE by 1.7% in the second quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock valued at $148,015,000 after buying an additional 146,266 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in OPENLANE by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,143,903 shares of the specialty retailer’s stock worth $118,517,000 after acquiring an additional 50,773 shares during the period. River Road Asset Management LLC increased its holdings in shares of OPENLANE by 15.3% in the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock valued at $85,161,000 after purchasing an additional 671,104 shares during the period. Geode Capital Management LLC raised its stake in shares of OPENLANE by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock worth $41,799,000 after purchasing an additional 35,214 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 6,469 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.

OPENLANE Company Profile

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.