OPENLANE (NYSE:KAR) Upgraded at StockNews.com

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

Several other analysts have also issued reports on the stock. Barrington Research reaffirmed an "outperform" rating and set a $25.00 price target on shares of OPENLANE in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their target price on shares of OPENLANE from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. Finally, Stephens upgraded shares of OPENLANE from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $20.00 to $26.00 in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.80.

OPENLANE Trading Up 2.3 %

Shares of NYSE KAR traded up $0.47 during mid-day trading on Thursday, hitting $21.06. The company had a trading volume of 560,176 shares, compared to its average volume of 672,532. The firm has a 50-day simple moving average of $20.79 and a two-hundred day simple moving average of $19.16. The company has a market capitalization of $2.25 billion, a PE ratio of 39.74, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53. OPENLANE has a one year low of $15.44 and a one year high of $22.47.

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OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. The firm had revenue of $455.00 million during 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%. Sell-side analysts expect that OPENLANE will post 0.95 earnings per share for the current fiscal year.

Institutional Trading of OPENLANE

Several hedge funds and other institutional investors have recently modified their holdings of KAR. Burgundy Asset Management Ltd. raised its holdings in OPENLANE by 1.7% in 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 acquiring an additional 153,975 shares during the period. Geode Capital Management LLC grew its position in shares of OPENLANE by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer's stock valued at $41,799,000 after purchasing an additional 35,214 shares during the last quarter. Brown Advisory Inc. bought a new position in shares of OPENLANE during the fourth quarter worth approximately $43,941,000. Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $29,708,000 after purchasing an additional 6,469 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in OPENLANE by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 1,493,988 shares of the specialty retailer's stock valued at $29,641,000 after purchasing an additional 35,164 shares during the period. Institutional investors 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.