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

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

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $20.00 to $26.00 in a research note on Friday, February 28th. Finally, Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.80.

OPENLANE Stock Down 0.1 %

Shares of OPENLANE stock opened at $20.62 on Thursday. OPENLANE has a 12 month low of $15.44 and a 12 month high of $22.47. The business has a fifty day simple moving average of $20.76 and a 200 day simple moving average of $19.11. The stock has a market cap of $2.20 billion, a PE ratio of 38.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $416.64 million. Analysts expect that OPENLANE will post 0.95 EPS for the current fiscal year.

Institutional Trading of OPENLANE

Institutional investors have recently modified their holdings of the company. Clifford Capital Partners LLC bought a new stake in shares of OPENLANE in the third quarter valued at about $10,309,000. Geode Capital Management LLC lifted its holdings in shares of OPENLANE by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock valued at $41,799,000 after purchasing an additional 35,214 shares in the last quarter. Versor Investments LP bought a new stake in shares of OPENLANE in the fourth quarter valued at about $254,000. Barclays PLC lifted its holdings in shares of OPENLANE by 344.7% in the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock valued at $3,022,000 after purchasing an additional 138,720 shares in the last quarter. Finally, Guidance Capital Inc. bought a new stake in shares of OPENLANE in the fourth quarter valued at about $472,000. 99.76% of the stock is currently owned by institutional investors.

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.