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

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

OPENLANE Stock Performance

Shares of NYSE:KAR opened at $19.57 on Monday. The business’s 50-day simple moving average is $16.43 and its 200 day simple moving average is $16.95. The company has a market cap of $2.13 billion, a P/E ratio of 75.25, a PEG ratio of 1.70 and a beta of 1.44. OPENLANE has a one year low of $12.86 and a one year high of $19.94.

OPENLANE (NYSE:KAR) last posted its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $448.00 million for the quarter, compared to analyst estimates of $431.68 million. OPENLANE had a net margin of 3.39% and a return on equity of 7.85%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. Analysts predict that OPENLANE will post 0.77 earnings per share for the current year.

Institutional Trading of OPENLANE

Several large investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new position in OPENLANE in the second quarter valued at about $3,243,000. Burgundy Asset Management Ltd. boosted its stake in shares of OPENLANE by 1.7% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock valued at $148,015,000 after buying an additional 146,266 shares during the last quarter. Raymond James & Associates grew its position in shares of OPENLANE by 293.5% during the second quarter. Raymond James & Associates now owns 243,164 shares of the specialty retailer’s stock worth $4,034,000 after buying an additional 181,364 shares in the last quarter. River Road Asset Management LLC increased its stake in shares of OPENLANE by 15.3% in the third quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock worth $85,161,000 after buying an additional 671,104 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in OPENLANE by 96.3% in the second quarter. SG Americas Securities LLC now owns 16,072 shares of the specialty retailer’s stock valued at $267,000 after acquiring an additional 7,886 shares in the last quarter. 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.