OPENLANE (NYSE:KAR) Upgraded by Stephens to "Overweight" Rating

Stephens upgraded shares of OPENLANE (NYSE:KAR - Free Report) from an equal weight rating to an overweight rating in a research note released on Friday, Marketbeat reports. The brokerage currently has $26.00 price objective on the specialty retailer's stock, up from their prior price objective of $20.00.

A number of other brokerages have also recently issued reports on KAR. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of OPENLANE in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their price target on OPENLANE from $21.00 to $23.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 20th. Finally, StockNews.com cut OPENLANE from a "buy" rating to a "hold" rating in a research note on Saturday, February 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $22.80.

OPENLANE Stock Down 1.6 %

KAR stock traded down $0.35 during trading on Friday, hitting $21.76. The company had a trading volume of 714,372 shares, compared to its average volume of 663,107. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 41.06, a PEG ratio of 1.85 and a beta of 1.52. The firm has a 50-day moving average price of $20.54 and a 200-day moving average price of $18.78. OPENLANE has a 12 month low of $15.43 and a 12 month high of $22.47.

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OPENLANE (NYSE:KAR - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $455.00 million for the quarter, compared to analyst estimates of $416.64 million. Equities analysts expect that OPENLANE will post 0.95 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. lifted its holdings in shares of OPENLANE by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 9,278,497 shares of the specialty retailer's stock valued at $184,085,000 after purchasing an additional 153,975 shares in the last quarter. River Road Asset Management LLC lifted its position in OPENLANE by 15.3% in the 3rd quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer's stock valued at $85,161,000 after acquiring an additional 671,104 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of OPENLANE by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer's stock worth $41,799,000 after buying an additional 35,214 shares during the period. Brown Advisory Inc. bought a new position in shares of OPENLANE during the 4th quarter worth approximately $43,941,000. Finally, Charles Schwab Investment Management Inc. increased its stake in OPENLANE by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,759,952 shares of the specialty retailer's stock valued at $29,708,000 after buying an additional 6,469 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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.