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

OPENLANE (NYSE:KAR)‘s stock had its “outperform” rating reissued by stock analysts at Barrington Research in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $25.00 target price on the specialty retailer’s stock. Barrington Research’s price objective would suggest a potential upside of 41.32% from the company’s current price.

A number of other analysts have also weighed in on KAR. Bank of America upgraded shares of OPENLANE from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $16.00 to $20.00 in a research note on Wednesday, April 10th. Robert W. Baird increased their price target on OPENLANE from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.60.

OPENLANE Stock Up 0.6 %

KAR traded up $0.11 on Thursday, reaching $17.69. 1,010,760 shares of the stock were exchanged, compared to its average volume of 928,867. The company’s 50-day moving average price is $16.72 and its 200 day moving average price is $15.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.15. OPENLANE has a fifty-two week low of $12.86 and a fifty-two week high of $17.85.

OPENLANE (NYSE:KAR) last released its earnings results on Wednesday, May 1st. The specialty retailer reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). OPENLANE had a positive return on equity of 8.53% and a negative net margin of 9.04%. The firm had revenue of $416.30 million for the quarter, compared to analyst estimates of $425.19 million. During the same period last year, the firm earned $0.12 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that OPENLANE will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other OPENLANE news, insider James E. Money II sold 14,822 shares of OPENLANE stock in a transaction on Monday, March 11th. The shares were sold at an average price of $15.83, for a total value of $234,632.26. Following the completion of the transaction, the insider now owns 44,604 shares of the company’s stock, valued at $706,081.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other OPENLANE news, insider James E. Money II sold 14,822 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $15.83, for a total transaction of $234,632.26. Following the transaction, the insider now owns 44,604 shares in the company, valued at $706,081.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter J. Kelly acquired 10,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the completion of the acquisition, the chief executive officer now owns 323,355 shares of the company’s stock, valued at approximately $4,808,288.85. The disclosure for this purchase can be found here. 2.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OPENLANE

Several institutional investors and hedge funds have recently added to or reduced their stakes in KAR. Burgundy Asset Management Ltd. lifted its holdings in OPENLANE by 2.8% during the fourth quarter. Burgundy Asset Management Ltd. now owns 8,690,866 shares of the specialty retailer’s stock valued at $128,712,000 after purchasing an additional 236,138 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 during the last quarter. Hawk Ridge Capital Management LP lifted its stake in OPENLANE by 5.3% in the 4th quarter. Hawk Ridge Capital Management LP now owns 3,900,178 shares of the specialty retailer’s stock valued at $57,762,000 after buying an additional 195,200 shares in the last quarter. Sunriver Management LLC boosted its holdings in 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in OPENLANE by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,727,213 shares of the specialty retailer’s stock worth $25,770,000 after buying an additional 53,654 shares in the last quarter. Hedge funds and other 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.