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

Barrington Research reiterated their outperform rating on shares of OPENLANE (NYSE:KAR) in a report published on Friday, Benzinga reports. Barrington Research currently has a $25.00 target price on the specialty retailer’s stock.

OPENLANE Trading Down 1.7 %

Shares of OPENLANE stock opened at $16.63 on Friday. The firm has a market capitalization of $1.80 billion, a PE ratio of -9.29, a P/E/G ratio of 1.65 and a beta of 1.44. OPENLANE has a twelve month low of $12.86 and a twelve month high of $18.73. The firm’s 50-day moving average price is $17.23 and its 200 day moving average price is $17.07.

OPENLANE (NYSE:KAR) last released its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.19 EPS 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 net margin of 3.39% and a return on equity of 7.85%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 EPS. On average, sell-side analysts predict that OPENLANE will post 0.78 EPS for the current fiscal year.

Institutional Trading of OPENLANE

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP increased its holdings 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 during the last quarter. Susquehanna Fundamental Investments LLC boosted its position in OPENLANE by 90.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 42,584 shares of the specialty retailer’s stock valued at $706,000 after buying an additional 20,221 shares during the period. The Manufacturers Life Insurance Company boosted its position in OPENLANE by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,254 shares of the specialty retailer’s stock valued at $900,000 after buying an additional 1,450 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of OPENLANE by 14.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,441,923 shares of the specialty retailer’s stock worth $23,922,000 after purchasing an additional 181,130 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of OPENLANE during the 2nd quarter worth $233,000. 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.