OPENLANE (NYSE:KAR) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of OPENLANE (NYSE:KAR) from a buy rating to a hold rating in a report issued on Friday morning.

A number of other equities research analysts also recently commented on the company. Stephens raised OPENLANE from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $26.00 in a report on Friday, February 28th. JPMorgan Chase & Co. downgraded shares of OPENLANE from an “overweight” rating to a “neutral” rating and cut their price target for the company from $23.00 to $20.00 in a report on Thursday. Finally, Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of OPENLANE in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, OPENLANE currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

OPENLANE Stock Down 0.4 %

Shares of NYSE:KAR opened at $19.27 on Friday. OPENLANE has a 52 week low of $15.44 and a 52 week high of $22.47. The company has a 50-day moving average price of $20.78 and a 200 day moving average price of $19.28. The company has a market cap of $2.06 billion, a P/E ratio of 36.35, a PEG ratio of 1.85 and a beta of 1.53.

OPENLANE (NYSE:KAR) last issued its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (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 the consensus estimate of $416.64 million. Analysts expect that OPENLANE will post 0.95 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bank of Montreal Can boosted its position in shares of OPENLANE by 9.6% in the 4th quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer’s stock worth $263,000 after buying an additional 1,161 shares in the last quarter. Two Sigma Investments LP raised its position in OPENLANE by 1.1% during the fourth quarter. Two Sigma Investments LP now owns 126,451 shares of the specialty retailer’s stock worth $2,509,000 after acquiring an additional 1,339 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of OPENLANE by 6.6% in the third quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer’s stock valued at $403,000 after purchasing an additional 1,472 shares in the last quarter. Carolina Wealth Advisors LLC grew its position in shares of OPENLANE by 3.7% in the fourth quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer’s stock valued at $832,000 after purchasing an additional 1,477 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of OPENLANE in the fourth quarter valued at approximately $34,000. Hedge funds and other 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.