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

OPENLANE (NYSE:KAR)‘s stock had its “outperform” rating restated by investment analysts at Barrington Research in a research report issued on Monday, Benzinga reports. They currently have a $25.00 target price on the specialty retailer’s stock. Barrington Research’s price target points to a potential upside of 54.13% from the company’s previous close.

OPENLANE Stock Up 2.0 %

Shares of KAR traded up $0.32 during mid-day trading on Monday, reaching $16.22. The company had a trading volume of 100,515 shares, compared to its average volume of 693,615. OPENLANE has a 52-week low of $12.86 and a 52-week high of $18.73. The stock has a market capitalization of $1.76 billion, a P/E ratio of 107.60, a PEG ratio of 1.66 and a beta of 1.44. The stock has a 50 day moving average of $16.43 and a two-hundred day moving average of $16.94.

OPENLANE (NYSE:KAR) last issued its earnings results on Wednesday, August 7th. The specialty retailer reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The company had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $426.11 million. During the same quarter in the previous year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that OPENLANE will post 0.77 earnings per share for the current year.

Hedge Funds Weigh In On OPENLANE

A number of hedge funds have recently bought and sold shares of the business. Verdence Capital Advisors LLC boosted its position in OPENLANE by 5.3% during the third quarter. Verdence Capital Advisors LLC now owns 15,822 shares of the specialty retailer’s stock worth $267,000 after purchasing an additional 793 shares in the last quarter. River Road Asset Management LLC boosted its position 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 in the last quarter. International Assets Investment Management LLC boosted its position in OPENLANE by 1,588.0% during the third quarter. International Assets Investment Management LLC now owns 19,834 shares of the specialty retailer’s stock worth $335,000 after purchasing an additional 18,659 shares in the last quarter. Everence Capital Management Inc. boosted its position in OPENLANE by 20.5% during the third quarter. Everence Capital Management Inc. now owns 14,500 shares of the specialty retailer’s stock worth $245,000 after purchasing an additional 2,470 shares in the last quarter. Finally, Raymond James & Associates boosted its position in OPENLANE by 20.1% during the third quarter. Raymond James & Associates now owns 292,094 shares of the specialty retailer’s stock worth $4,931,000 after purchasing an additional 48,930 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

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.