OPENLANE (NYSE:KAR) Upgraded to Buy at StockNews.com

OPENLANE (NYSE:KAR - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.

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

OPENLANE Price Performance

NYSE KAR traded down $0.52 during mid-day trading on Friday, hitting $20.08. The company's stock had a trading volume of 1,270,748 shares, compared to its average volume of 583,527. The firm has a market capitalization of $2.15 billion, a P/E ratio of 77.23, a price-to-earnings-growth ratio of 1.84 and a beta of 1.52. The stock's fifty day simple moving average is $20.40 and its two-hundred day simple moving average is $18.48. OPENLANE has a 52-week low of $12.86 and a 52-week high of $21.51.

Institutional Investors Weigh In On OPENLANE

Several hedge funds and other institutional investors have recently modified their holdings of KAR. Burgundy Asset Management Ltd. grew its stake in OPENLANE by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 9,278,497 shares of the specialty retailer's stock worth $184,085,000 after purchasing an additional 153,975 shares in the last quarter. River Road Asset Management LLC lifted its holdings in OPENLANE by 15.3% during the 3rd quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer's stock worth $85,161,000 after buying an additional 671,104 shares during the last quarter. Geode Capital Management LLC grew its position in shares of OPENLANE by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer's stock worth $41,799,000 after acquiring an additional 35,214 shares in the last quarter. Brown Advisory Inc. bought a new stake in shares of OPENLANE in the 4th quarter valued at approximately $43,941,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of OPENLANE by 0.4% during 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 acquiring an additional 6,469 shares in the last quarter. 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.