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

Barrington Research reissued their outperform rating on shares of OPENLANE (NYSE:KAR) in a report issued on Friday,Benzinga reports. Barrington Research currently has a $25.00 price target on the specialty retailer’s stock.

KAR has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price target on OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. StockNews.com raised OPENLANE from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Stephens initiated coverage on OPENLANE in a research note on Wednesday, January 22nd. They set an “equal weight” rating and a $20.00 price objective for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.60.

OPENLANE Trading Up 0.2 %

Shares of KAR opened at $20.96 on Friday. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 39.54, a PEG ratio of 1.78 and a beta of 1.52. The stock has a 50 day moving average of $20.39 and a 200 day moving average of $18.56. OPENLANE has a 12 month low of $14.45 and a 12 month high of $21.93.

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

Institutional Investors Weigh In On OPENLANE

Hedge funds have recently added to or reduced their stakes in the company. Clifford Capital Partners LLC bought a new stake in OPENLANE during the third quarter worth about $10,309,000. Geode Capital Management LLC lifted its stake in OPENLANE by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock worth $41,799,000 after purchasing an additional 35,214 shares during the last quarter. Barclays PLC lifted its stake in OPENLANE by 344.7% during the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock worth $3,022,000 after purchasing an additional 138,720 shares during the last quarter. Guidance Capital Inc. bought a new stake in OPENLANE during the fourth quarter worth about $472,000. Finally, River Road Asset Management LLC lifted its stake in OPENLANE by 15.3% during 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 purchasing an additional 671,104 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

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.