OPENLANE (NYSE:KAR) Upgraded at StockNews.com

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

Other equities analysts have also recently issued research reports about the stock. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of OPENLANE in a research report on Friday, February 21st. Stephens upgraded OPENLANE from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $26.00 in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. raised 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, OPENLANE presently has an average rating of “Moderate Buy” and an average target price of $22.80.

OPENLANE Trading Down 2.0 %

NYSE KAR traded down $0.42 on Thursday, hitting $20.61. The company’s stock had a trading volume of 567,963 shares, compared to its average volume of 668,512. OPENLANE has a 52-week low of $15.44 and a 52-week high of $22.47. The firm has a market cap of $2.20 billion, a P/E ratio of 38.89, a PEG ratio of 1.85 and a beta of 1.53. The company’s 50-day simple moving average is $20.74 and its 200 day simple moving average is $19.08.

OPENLANE (NYSE:KAR) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The business 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, research analysts forecast that OPENLANE will post 0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On OPENLANE

Several large investors have recently made changes to their positions in the business. Brown Advisory Inc. purchased a new stake in shares of OPENLANE during the fourth quarter valued at $43,941,000. Kimelman & Baird LLC purchased a new stake in shares of OPENLANE during the 4th quarter valued at about $15,793,000. TFJ Management LLC purchased a new stake in shares of OPENLANE during the 4th quarter valued at about $14,465,000. Clifford Capital Partners LLC bought a new stake in shares of OPENLANE in the third quarter worth approximately $10,309,000. Finally, Advisory Research Inc. purchased a new position in shares of OPENLANE during the fourth quarter valued at approximately $9,761,000. 99.76% of the stock is currently owned by hedge funds and other 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.