OPENLANE (NYSE:KAR) Rating Reiterated by Barrington Research

Barrington Research reaffirmed their outperform rating on shares of OPENLANE (NYSE:KAR) in a research report released on Monday, Benzinga reports. The firm currently has a $25.00 target price on the specialty retailer’s stock.

KAR has been the subject of a number of other research reports. Bank of America raised shares of OPENLANE from an underperform rating to a neutral rating and boosted their target price for the stock from $16.00 to $20.00 in a research report on Wednesday, April 10th. Robert W. Baird boosted their target price on shares of OPENLANE from $18.00 to $20.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $19.60.

OPENLANE Stock Performance

OPENLANE stock remained flat at $16.97 on Monday. 406,708 shares of the company’s stock were exchanged, compared to its average volume of 721,223. The firm has a market cap of $1.84 billion, a PE ratio of -9.48, a PEG ratio of 1.20 and a beta of 1.44. 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 52-week low of $12.86 and a 52-week high of $18.73. The company’s fifty day moving average is $17.11 and its two-hundred day moving average is $16.54.

Insider Activity

In other news, EVP James P. Coyle sold 6,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $18.09, for a total transaction of $108,540.00. Following the sale, the executive vice president now directly owns 23,885 shares of the company’s stock, valued at $432,079.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.32% of the stock is owned by insiders.

Hedge Funds Weigh In On OPENLANE

Several large investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System lifted its holdings in 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 buying an additional 1,000 shares during the period. Fifth Third Bancorp lifted its holdings in 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 buying an additional 1,018 shares during the period. Texas Permanent School Fund Corp raised its holdings in OPENLANE by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 94,536 shares of the specialty retailer’s stock worth $1,635,000 after purchasing an additional 1,264 shares during the period. ProShare Advisors LLC raised its holdings in OPENLANE by 6.4% in the first quarter. ProShare Advisors LLC now owns 21,562 shares of the specialty retailer’s stock worth $373,000 after purchasing an additional 1,290 shares during the period. Finally, TFO Wealth Partners LLC raised its holdings in OPENLANE by 16,018.2% in the fourth quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 1,762 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

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.