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

Barrington Research reiterated their outperform rating on shares of OPENLANE (NYSE:KAR) in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a $25.00 price objective on the specialty retailer’s stock.

Several other analysts have also recently commented on the stock. Bank of America upgraded shares of OPENLANE from an underperform rating to a neutral rating and raised their target price for the stock from $16.00 to $20.00 in a research note on Wednesday, April 10th. Robert W. Baird lifted their price objective on OPENLANE from $18.00 to $20.00 and gave the company an outperform rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $19.60.

OPENLANE Stock Performance

Shares of KAR stock opened at $16.53 on Monday. The stock’s 50-day moving average price is $17.09 and its 200 day moving average price is $16.54. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.79 billion, a PE ratio of -9.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.44. OPENLANE has a 52-week low of $12.86 and a 52-week 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). OPENLANE had a negative net margin of 9.04% and a positive return on equity of 8.53%. The company had revenue of $431.80 million during the quarter, compared to analyst estimates of $426.11 million. During the same period in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities research analysts forecast that OPENLANE will post 0.8 EPS for the current year.

Insider Buying and Selling at OPENLANE

In related news, EVP James P. Coyle sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $18.09, for a total value of $108,540.00. Following the sale, the executive vice president now owns 23,885 shares in the company, valued at approximately $432,079.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.32% of the stock is currently owned by corporate insiders.

Institutional Trading of OPENLANE

Several large investors have recently bought and sold shares of KAR. Sunriver Management LLC boosted its position in shares of OPENLANE by 729.7% in the 4th quarter. Sunriver Management LLC now owns 2,338,093 shares of the specialty retailer’s stock worth $34,627,000 after buying an additional 2,056,280 shares in the last quarter. Invenomic Capital Management LP lifted its holdings in shares of OPENLANE by 277.0% in the first quarter. Invenomic Capital Management LP now owns 1,529,680 shares of the specialty retailer’s stock valued at $26,463,000 after purchasing an additional 1,123,953 shares in the last quarter. Norges Bank acquired a new stake in shares of OPENLANE in the fourth quarter valued at approximately $10,426,000. Dimensional Fund Advisors LP increased its stake in shares of OPENLANE by 6.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,059,333 shares of the specialty retailer’s stock worth $104,550,000 after purchasing an additional 399,073 shares in the last quarter. Finally, CenterBook Partners LP acquired a new position in shares of OPENLANE during the 4th quarter worth approximately $4,069,000. Institutional investors and hedge funds 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.