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

OPENLANE (NYSE:KAR)‘s stock had its “outperform” rating reiterated by Barrington Research in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $25.00 price objective on the specialty retailer’s stock. Barrington Research’s price target would suggest a potential upside of 54.13% from the stock’s previous close.

OPENLANE Trading Up 2.0 %

Shares of KAR traded up $0.32 during trading hours on Monday, hitting $16.22. The company had a trading volume of 100,515 shares, compared to its average volume of 693,615. The company has a market capitalization of $1.76 billion, a PE ratio of 107.60, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. OPENLANE has a one year low of $12.86 and a one year high of $18.73. The company’s fifty day moving average price is $16.43 and its two-hundred day moving average price is $16.94.

OPENLANE (NYSE:KAR) last announced its earnings results on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). OPENLANE had a net margin of 3.39% and a return on equity of 7.85%. The business had revenue of $431.80 million for the quarter, compared to analyst estimates of $426.11 million. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts forecast that OPENLANE will post 0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC increased 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 valued at $267,000 after purchasing an additional 793 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of OPENLANE by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 54,500 shares of the specialty retailer’s stock valued at $904,000 after purchasing an additional 1,000 shares during the period. Fifth Third Bancorp increased its holdings in shares of OPENLANE by 175.5% in the second quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 1,018 shares during the period. Texas Permanent School Fund Corp increased its holdings in shares of OPENLANE by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 94,536 shares of the specialty retailer’s stock valued at $1,635,000 after purchasing an additional 1,264 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of OPENLANE by 6.4% in the first quarter. ProShare Advisors LLC now owns 21,562 shares of the specialty retailer’s stock valued at $373,000 after purchasing an additional 1,290 shares during the period. 99.76% of the stock is 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.