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

OPENLANE (NYSE:KAR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of OPENLANE from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $20.00 in a research note on Thursday. Stephens raised shares of OPENLANE from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $20.00 to $26.00 in a research report on Friday, February 28th. 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.20.

OPENLANE Stock Performance

Shares of NYSE:KAR opened at $19.27 on Friday. The firm has a market cap of $2.06 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53. The firm’s 50 day simple moving average is $20.78 and its 200-day simple moving average is $19.25. OPENLANE has a one year low of $15.44 and a one year high of $22.47.

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. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The company had revenue of $455.00 million for the quarter, compared to the consensus estimate of $416.64 million. Equities research analysts predict that OPENLANE will post 0.95 EPS for the current fiscal year.

Institutional Trading of OPENLANE

A number of institutional investors have recently modified their holdings of the company. Burgundy Asset Management Ltd. lifted its position in OPENLANE by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 9,278,497 shares of the specialty retailer’s stock valued at $184,085,000 after acquiring an additional 153,975 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of OPENLANE by 26.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 339,542 shares of the specialty retailer’s stock valued at $6,737,000 after purchasing an additional 70,083 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of OPENLANE during the 4th quarter valued at $291,000. Squarepoint Ops LLC acquired a new stake in shares of OPENLANE in the 4th quarter worth $248,000. Finally, Two Sigma Advisers LP grew its stake in OPENLANE by 40.3% during the 4th quarter. Two Sigma Advisers LP now owns 89,500 shares of the specialty retailer’s stock worth $1,776,000 after buying an additional 25,700 shares during the last quarter. 99.76% of the stock is currently 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.