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

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

KAR has been the topic of a number of other research reports. Barrington Research restated an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on shares of OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.00.

OPENLANE Trading Down 2.5 %

Shares of KAR stock opened at $19.78 on Friday. OPENLANE has a 12 month low of $12.86 and a 12 month high of $20.85. The company has a market cap of $2.11 billion, a P/E ratio of 76.08, a PEG ratio of 2.04 and a beta of 1.52. The firm has a fifty day moving average price of $19.84 and a 200 day moving average price of $17.88.

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

Insider Transactions at OPENLANE

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

Institutional Trading of OPENLANE

Large investors have recently added to or reduced their stakes in the business. Quarry LP boosted its holdings in shares of OPENLANE by 201.4% during the 2nd quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock worth $39,000 after buying an additional 1,587 shares during the period. Creative Planning acquired a new position in shares of OPENLANE in the 3rd quarter valued at $193,000. MQS Management LLC acquired a new position in shares of OPENLANE in the 2nd quarter valued at $204,000. Deerfield Management Company L.P. Series C acquired a new position in shares of OPENLANE in the 2nd quarter valued at $233,000. Finally, Everence Capital Management Inc. increased its position in shares of OPENLANE by 20.5% during the 3rd quarter. Everence Capital Management Inc. now owns 14,500 shares of the specialty retailer’s stock worth $245,000 after purchasing an additional 2,470 shares in the last quarter. 99.76% of the stock is 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.