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

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

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price objective on OPENLANE from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. Stephens assumed coverage on OPENLANE in a research note on Wednesday, January 22nd. They issued an "equal weight" rating and a $20.00 target price on the stock. Finally, Barrington Research restated an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $21.60.

OPENLANE Price Performance

Shares of NYSE:KAR traded up $0.50 during midday trading on Friday, reaching $21.44. The company had a trading volume of 886,760 shares, compared to its average volume of 641,002. The stock has a market capitalization of $2.29 billion, a P/E ratio of 40.46, a PEG ratio of 1.85 and a beta of 1.52. The stock's fifty day moving average price is $20.42 and its 200-day moving average price is $18.64. OPENLANE has a one year low of $14.73 and a one year high of $21.93.

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OPENLANE (NYSE:KAR - Get Free Report) last released its earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, topping analysts' consensus estimates 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%. As a group, sell-side analysts forecast that OPENLANE will post 0.95 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new stake in OPENLANE during the fourth quarter valued at $34,000. Quarry LP lifted its holdings in shares of OPENLANE by 414.6% during the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock valued at $43,000 after buying an additional 1,758 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of OPENLANE by 435.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock valued at $51,000 after buying an additional 2,062 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in OPENLANE in the fourth quarter worth approximately $68,000. Finally, KBC Group NV raised its position in OPENLANE by 51.1% during the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock valued at $105,000 after acquiring an additional 1,798 shares in the last quarter. Institutional investors and hedge funds 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.