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

OPENLANE (NYSE:KAR - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

Several other research analysts have also commented on the stock. Barrington Research reissued an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st. Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $20.00 to $26.00 in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered OPENLANE from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $23.00 to $20.00 in a report on Thursday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.20.

OPENLANE Trading Up 0.1 %

OPENLANE stock traded up $0.02 during trading on Friday, hitting $19.30. The company had a trading volume of 1,038,492 shares, compared to its average volume of 721,602. The company's 50 day simple moving average is $20.77 and its 200-day simple moving average is $19.30. OPENLANE has a 1-year low of $15.44 and a 1-year high of $22.47. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53.

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OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $416.64 million. As a group, analysts forecast that OPENLANE will post 0.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OPENLANE

Several hedge funds and other institutional investors have recently bought and sold shares of KAR. Canada Pension Plan Investment Board purchased a new position in shares of OPENLANE during the fourth quarter worth about $34,000. Quarry LP boosted its position in shares of OPENLANE by 414.6% in the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock valued at $43,000 after purchasing an additional 1,758 shares during the period. Smartleaf Asset Management LLC grew its stake in OPENLANE by 435.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock worth $51,000 after buying an additional 2,062 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in OPENLANE during the fourth quarter worth approximately $68,000. Finally, KBC Group NV lifted its stake in OPENLANE by 51.1% in the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock valued at $105,000 after buying an additional 1,798 shares during the last quarter. 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.