OPENLANE (NYSE:KAR) Upgraded at 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 to clients and investors on Friday.

KAR has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price objective on OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a research note on Friday. Finally, Stephens began coverage on shares of OPENLANE in a research report on Wednesday, January 22nd. They issued an “equal weight” rating and a $20.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

OPENLANE Stock Performance

Shares of KAR stock opened at $20.61 on Friday. The firm’s 50 day moving average price is $20.40 and its two-hundred day moving average price is $18.46. OPENLANE has a 52-week low of $12.86 and a 52-week high of $21.51. The stock has a market cap of $2.20 billion, a PE ratio of 79.25, a PEG ratio of 1.84 and a beta of 1.52.

Institutional Investors Weigh In On OPENLANE

A number of hedge funds have recently modified their holdings of the business. River Road Asset Management LLC increased its stake in OPENLANE by 15.3% during the 3rd quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock worth $85,161,000 after purchasing an additional 671,104 shares in the last quarter. Geode Capital Management LLC boosted 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 buying an additional 35,214 shares during the period. Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 6,469 shares in the last quarter. William Blair Investment Management LLC raised its holdings 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 worth $29,641,000 after acquiring an additional 35,164 shares during the period. Finally, Northern Trust Corp lifted its position in OPENLANE by 3.5% in the 4th quarter. Northern Trust Corp now owns 1,366,918 shares of the specialty retailer’s stock valued at $27,120,000 after acquiring an additional 46,041 shares in the last quarter. 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.