Barrington Research Reaffirms “Outperform” Rating for OPENLANE (NYSE:KAR)

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

OPENLANE Price Performance

NYSE:KAR opened at $16.50 on Friday. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -9.22, a PEG ratio of 1.65 and a beta of 1.44. The business has a 50 day moving average of $17.20 and a 200 day moving average of $17.08. OPENLANE has a 1-year low of $12.86 and a 1-year high of $18.73.

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

Institutional Trading of OPENLANE

Several large investors have recently bought and sold shares of the company. Sunriver Management LLC increased its holdings in shares of OPENLANE by 729.7% during the fourth quarter. Sunriver Management LLC now owns 2,338,093 shares of the specialty retailer’s stock valued at $34,627,000 after acquiring an additional 2,056,280 shares in the last quarter. Invenomic Capital Management LP grew its stake in shares of OPENLANE by 277.0% during the 1st quarter. Invenomic Capital Management LP now owns 1,529,680 shares of the specialty retailer’s stock valued at $26,463,000 after acquiring an additional 1,123,953 shares during the period. Norges Bank purchased a new position in shares of OPENLANE during the 4th quarter valued at $10,426,000. CenterBook Partners LP bought a new position in shares of OPENLANE in the fourth quarter worth about $4,069,000. Finally, Burgundy Asset Management Ltd. lifted its holdings in shares of OPENLANE by 2.8% in the fourth quarter. Burgundy Asset Management Ltd. now owns 8,690,866 shares of the specialty retailer’s stock worth $128,712,000 after buying an additional 236,138 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

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.