OPENLANE, Inc. (NYSE:KAR) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of OPENLANE, Inc. (NYSE:KAR - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the five research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $22.80.

KAR has been the subject of a number of research reports. Stephens upgraded 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 research note on Friday, February 28th. Barrington Research restated an "outperform" rating and issued a $25.00 target price on shares of OPENLANE in a research note on Friday, February 21st. 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. Finally, StockNews.com lowered OPENLANE from a "buy" rating to a "hold" rating in a research note on Saturday, February 22nd.

OPENLANE Price Performance

OPENLANE stock opened at $20.81 on Thursday. The stock has a fifty day moving average price of $20.67 and a two-hundred day moving average price of $18.94. OPENLANE has a 52-week low of $15.43 and a 52-week high of $22.47. The firm has a market capitalization of $2.23 billion, a P/E ratio of 39.27, a P/E/G ratio of 1.85 and a beta of 1.53.

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OPENLANE (NYSE:KAR - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (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 firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. On average, equities research analysts predict that OPENLANE will post 0.95 EPS for the current fiscal year.

Institutional Trading of OPENLANE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clifford Capital Partners LLC acquired a new stake in OPENLANE in the third quarter worth about $10,309,000. Geode Capital Management LLC increased its position in OPENLANE by 1.4% in the third 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 during the period. Versor Investments LP acquired a new stake in OPENLANE in the fourth quarter worth about $254,000. Barclays PLC increased its position in OPENLANE by 344.7% in the third 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. Finally, Guidance Capital Inc. acquired a new stake in OPENLANE in the fourth quarter worth about $472,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

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.

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