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

OPENLANE (NYSE:KAR)‘s stock had its “outperform” rating restated by research analysts at Barrington Research in a report released on Friday,Benzinga reports. They currently have a $25.00 price objective on the specialty retailer’s stock. Barrington Research’s target price would suggest a potential upside of 19.30% from the company’s current price.

A number of other research analysts also recently issued reports on KAR. Stephens started coverage on OPENLANE in a research note on Wednesday, January 22nd. They issued an “equal weight” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, StockNews.com raised OPENLANE from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, OPENLANE has an average rating of “Moderate Buy” and an average price target of $21.60.

OPENLANE Stock Performance

Shares of OPENLANE stock traded up $0.05 during trading on Friday, reaching $20.96. 953,828 shares of the company’s stock were exchanged, compared to its average volume of 616,576. OPENLANE has a 1-year low of $14.45 and a 1-year high of $21.93. The company has a market cap of $2.24 billion, a P/E ratio of 39.54, a PEG ratio of 1.78 and a beta of 1.52. The firm’s 50-day moving average price is $20.38 and its 200 day moving average price is $18.53.

OPENLANE (NYSE:KAR) last issued its quarterly earnings data on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $455.00 million for the quarter, compared to analyst estimates of $416.64 million. OPENLANE had a return on equity of 9.23% and a net margin of 6.27%. As a group, equities research analysts predict that OPENLANE will post 0.95 EPS for the current year.

Hedge Funds Weigh In On OPENLANE

A number of large investors have recently made changes to their positions in KAR. Creative Planning bought a new position in shares of OPENLANE in the third quarter worth $193,000. Raymond James & Associates boosted its holdings in shares of OPENLANE by 20.1% in the third quarter. Raymond James & Associates now owns 292,094 shares of the specialty retailer’s stock worth $4,931,000 after acquiring an additional 48,930 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of OPENLANE by 1,588.0% in the third quarter. International Assets Investment Management LLC now owns 19,834 shares of the specialty retailer’s stock worth $335,000 after acquiring an additional 18,659 shares during the period. River Road Asset Management LLC boosted its holdings in shares of OPENLANE by 15.3% in the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock worth $85,161,000 after acquiring an additional 671,104 shares during the period. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of OPENLANE by 5.3% in the third quarter. Verdence Capital Advisors LLC now owns 15,822 shares of the specialty retailer’s stock worth $267,000 after acquiring an additional 793 shares during the period. 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.