OPENLANE (NYSE:KAR) Stock Rating Lowered by JPMorgan Chase & Co.

OPENLANE (NYSE:KAR - Get Free Report) was downgraded by JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $20.00 price objective on the specialty retailer's stock, down from their previous price objective of $23.00. JPMorgan Chase & Co.'s target price would indicate a potential upside of 4.22% from the company's previous close.

A number of other research analysts have also recently issued reports on the stock. Stephens raised shares of OPENLANE from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $20.00 to $26.00 in a research report on Friday, February 28th. Barrington Research reissued an "outperform" rating and issued a $25.00 price target on shares of OPENLANE in a research report on Friday, February 21st. Finally, StockNews.com raised OPENLANE from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.20.

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OPENLANE Stock Down 0.5 %

Shares of NYSE:KAR traded down $0.09 on Thursday, hitting $19.19. The company had a trading volume of 194,915 shares, compared to its average volume of 718,341. OPENLANE has a 1 year low of $15.44 and a 1 year high of $22.47. The firm's 50-day simple moving average is $20.78 and its two-hundred day simple moving average is $19.28. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 1.85 and a beta of 1.53.

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 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 analysts' expectations of $416.64 million. Equities research analysts anticipate that OPENLANE will post 0.95 EPS for the current year.

Hedge Funds Weigh In On OPENLANE

A number of hedge funds have recently bought and sold shares of the business. Bank of Montreal Can grew its stake in shares of OPENLANE by 9.6% in the fourth quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer's stock worth $263,000 after acquiring an additional 1,161 shares during the period. Two Sigma Investments LP boosted its holdings in OPENLANE by 1.1% in the fourth quarter. Two Sigma Investments LP now owns 126,451 shares of the specialty retailer's stock worth $2,509,000 after purchasing an additional 1,339 shares during the last quarter. BNP Paribas Financial Markets grew its position in OPENLANE by 6.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer's stock worth $403,000 after purchasing an additional 1,472 shares during the period. Carolina Wealth Advisors LLC raised its stake in OPENLANE by 3.7% during the 4th quarter. Carolina Wealth Advisors LLC now owns 41,912 shares of the specialty retailer's stock valued at $832,000 after buying an additional 1,477 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of OPENLANE during the 4th quarter valued at $34,000. 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.