OPENLANE (NYSE:KAR) Stock Rating Reaffirmed by Barrington Research

OPENLANE (NYSE:KAR)‘s stock had its “outperform” rating reiterated by equities researchers at Barrington Research in a research note issued to investors on Friday, Benzinga reports. They currently have a $25.00 price objective on the specialty retailer’s stock. Barrington Research’s target price would suggest a potential upside of 50.33% from the stock’s previous close.

OPENLANE Trading Down 1.7 %

KAR opened at $16.63 on Friday. OPENLANE has a 1-year low of $12.86 and a 1-year high of $18.73. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -9.29, a PEG ratio of 1.65 and a beta of 1.44. The company’s fifty day moving average price is $17.23 and its two-hundred day moving average price is $17.06.

OPENLANE (NYSE:KAR) last posted 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 business had revenue of $431.80 million during the quarter, compared to analyst estimates of $426.11 million. OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. As a group, equities analysts forecast that OPENLANE will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OPENLANE

Several large investors have recently bought and sold shares of the stock. Fifth Third Bancorp grew its stake in shares of OPENLANE by 175.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 1,018 shares in the last quarter. TFO Wealth Partners LLC increased its stake in OPENLANE by 16,018.2% in the 4th quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 1,762 shares during the last quarter. Quarry LP lifted its position in shares of OPENLANE by 201.4% during the 2nd quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock worth $39,000 after buying an additional 1,587 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of OPENLANE in the 2nd quarter worth approximately $81,000. Finally, Teacher Retirement System of Texas bought a new position in shares of OPENLANE in the fourth quarter valued at approximately $164,000. 99.76% of the stock is currently owned by institutional investors.

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.