OPENLANE (NYSE:KAR) Given “Outperform” Rating at Barrington Research

Barrington Research reissued their outperform rating on shares of OPENLANE (NYSE:KAR) in a research report released on Monday morning,Benzinga reports. The brokerage currently has a $25.00 price objective on the specialty retailer’s stock.

OPENLANE Stock Performance

Shares of KAR opened at $19.57 on Monday. The company has a market capitalization of $2.13 billion, a PE ratio of 75.25, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. OPENLANE has a fifty-two week low of $12.86 and a fifty-two week high of $19.94. The stock has a fifty day moving average of $16.43 and a two-hundred day moving average of $16.95.

OPENLANE (NYSE:KAR) last released its earnings results on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. The firm had revenue of $448.00 million for the quarter, compared to the consensus estimate of $431.68 million. OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, equities research analysts forecast that OPENLANE will post 0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OPENLANE

A number of hedge funds have recently made changes to their positions in the stock. Burgundy Asset Management Ltd. grew its position in OPENLANE by 1.7% during the second quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock valued at $148,015,000 after acquiring an additional 146,266 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of OPENLANE by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,143,903 shares of the specialty retailer’s stock valued at $118,517,000 after purchasing an additional 50,773 shares in the last quarter. River Road Asset Management LLC grew its holdings in shares of 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 purchasing an additional 671,104 shares during the period. Invenomic Capital Management LP increased its position in OPENLANE by 277.0% during the 1st quarter. Invenomic Capital Management LP now owns 1,529,680 shares of the specialty retailer’s stock worth $26,463,000 after purchasing an additional 1,123,953 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in OPENLANE by 14.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,441,923 shares of the specialty retailer’s stock valued at $23,922,000 after buying an additional 181,130 shares in the last quarter. Institutional investors and hedge funds 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.