OPENLANE (NYSE:KAR) Rating Increased to Overweight at Stephens

OPENLANE (NYSE:KAR) was upgraded by investment analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage presently has a $26.00 price objective on the specialty retailer’s stock, up from their previous price objective of $20.00. Stephens’ price objective would indicate a potential upside of 22.21% from the company’s current price.

A number of other equities analysts also recently weighed in on KAR. Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. StockNews.com cut OPENLANE from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Finally, JPMorgan Chase & Co. raised their price objective on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

OPENLANE Stock Down 0.6 %

Shares of KAR stock opened at $21.28 on Friday. The firm has a market capitalization of $2.27 billion, a P/E ratio of 40.14, a P/E/G ratio of 1.85 and a beta of 1.52. OPENLANE has a twelve month low of $14.94 and a twelve month high of $21.93. The stock’s fifty day simple moving average is $20.45 and its 200 day simple moving average is $18.66.

OPENLANE (NYSE:KAR) last released its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $455.00 million for the quarter, compared to analyst estimates of $416.64 million. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. As a group, equities research analysts expect that OPENLANE will post 0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On OPENLANE

A number of hedge funds and other institutional investors have recently modified their holdings of KAR. Clifford Capital Partners LLC bought a new position in shares of OPENLANE during the 3rd quarter valued at approximately $10,309,000. Geode Capital Management LLC lifted its holdings in OPENLANE by 1.4% during 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 stake in 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 during the period. Guidance Capital Inc. bought a new position in OPENLANE in the 4th quarter worth about $472,000. Finally, River Road Asset Management LLC increased its position in shares of OPENLANE by 15.3% during the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock valued at $85,161,000 after buying an additional 671,104 shares during the period. Hedge funds and other institutional investors 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.