OPENLANE (NYSE:KAR) Earns “Outperform” Rating from Barrington Research

Barrington Research restated their outperform rating on shares of OPENLANE (NYSE:KAR) in a research note released on Friday morning, Benzinga reports. They currently have a $25.00 target price on the specialty retailer’s stock.

OPENLANE Trading Down 1.7 %

NYSE KAR opened at $16.63 on Friday. OPENLANE has a 1-year low of $12.86 and a 1-year high of $18.73. The firm has a market cap of $1.80 billion, a PE ratio of -9.29, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. The stock has a 50-day moving average of $17.23 and a 200-day moving average of $17.07.

OPENLANE (NYSE:KAR) last posted its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). The company had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $426.11 million. OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, equities research analysts forecast that OPENLANE will post 0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OPENLANE

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP increased its stake in OPENLANE by 201.4% during the second quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 1,587 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its position in shares of OPENLANE by 90.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 42,584 shares of the specialty retailer’s stock worth $706,000 after purchasing an additional 20,221 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of OPENLANE by 2.7% during the second quarter. The Manufacturers Life Insurance Company now owns 54,254 shares of the specialty retailer’s stock worth $900,000 after purchasing an additional 1,450 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of OPENLANE by 14.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,441,923 shares of the specialty retailer’s stock valued at $23,922,000 after acquiring an additional 181,130 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new stake in OPENLANE in the second quarter valued at $233,000. 99.76% of the stock is owned by institutional investors.

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.