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

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

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

OPENLANE Price Performance

Shares of KAR traded up $0.05 during trading hours on Friday, reaching $20.96. 953,828 shares of the company’s stock traded hands, compared to its average volume of 616,576. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 39.54, a P/E/G ratio of 1.78 and a beta of 1.52. OPENLANE has a twelve month low of $14.45 and a twelve month high of $21.93. The business’s fifty day simple moving average is $20.38 and its two-hundred day simple moving average is $18.53.

OPENLANE (NYSE:KAR) last issued its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company 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%. On average, equities research analysts expect that OPENLANE will post 0.95 EPS for the current year.

Institutional Investors Weigh In On OPENLANE

A number of institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board acquired a new stake in shares of OPENLANE during the 4th quarter valued at about $34,000. Quarry LP raised its stake in shares of OPENLANE by 414.6% in the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer’s stock valued at $43,000 after acquiring an additional 1,758 shares in the last quarter. Smartleaf Asset Management LLC increased its position in OPENLANE by 435.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock worth $51,000 after buying an additional 2,062 shares during the period. Johnson Financial Group Inc. bought a new position in OPENLANE in the 4th quarter worth approximately $68,000. Finally, KBC Group NV increased its position in OPENLANE by 51.1% in the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock worth $105,000 after buying an additional 1,798 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

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.