OPENLANE (NYSE:KAR) Cut to “Hold” at StockNews.com

StockNews.com cut shares of OPENLANE (NYSE:KAR) from a buy rating to a hold rating in a research report released on Saturday.

Several other research analysts also recently commented on KAR. Stephens started coverage on OPENLANE in a report on Wednesday, January 22nd. They set an “equal weight” rating and a $20.00 price objective on the stock. Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research report on Friday. Finally, JPMorgan Chase & Co. increased their target price on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

OPENLANE Stock Up 0.2 %

KAR opened at $20.96 on Friday. The stock’s fifty day moving average is $20.39 and its two-hundred day moving average is $18.57. The company has a market capitalization of $2.24 billion, a P/E ratio of 39.54, a PEG ratio of 1.85 and a beta of 1.52. OPENLANE has a 52 week low of $14.45 and a 52 week high of $21.93.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $455.00 million for the quarter, compared to the consensus estimate of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. Equities analysts anticipate that OPENLANE will post 0.95 earnings per share for the current year.

Institutional Trading of OPENLANE

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Clifford Capital Partners LLC acquired a new stake in shares of OPENLANE in the 3rd quarter worth $10,309,000. Geode Capital Management LLC boosted its position in shares of OPENLANE by 1.4% in the 3rd 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 in the last quarter. Barclays PLC boosted its position in shares of OPENLANE by 344.7% in the 3rd quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock worth $3,022,000 after purchasing an additional 138,720 shares in the last quarter. Guidance Capital Inc. acquired a new stake in shares of OPENLANE in the 4th quarter worth $472,000. Finally, River Road Asset Management LLC boosted its position in shares of OPENLANE by 15.3% in 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. Institutional investors own 99.76% of the company’s stock.

About OPENLANE

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.