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

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

OPENLANE Trading Up 0.2 %

KAR traded up $0.03 during trading hours on Monday, hitting $16.23. The company’s stock had a trading volume of 8,619 shares, compared to its average volume of 691,855. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 108.00, a P/E/G ratio of 1.67 and a beta of 1.44. The business’s 50-day moving average price is $16.40 and its 200-day moving average price is $16.93. OPENLANE has a 12 month low of $12.86 and a 12 month high of $18.73.

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 the consensus estimate of $426.11 million. OPENLANE had a return on equity of 7.85% and a net margin of 3.39%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. On average, analysts forecast that OPENLANE will post 0.77 earnings per share for the current year.

Institutional Investors Weigh In On OPENLANE

Several institutional investors have recently modified their holdings of KAR. Fifth Third Bancorp grew its holdings in OPENLANE by 175.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,598 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 1,018 shares during the last quarter. Quarry LP boosted its position in shares of OPENLANE by 201.4% during the second quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 1,587 shares during the period. Innealta Capital LLC bought a new position in shares of OPENLANE during the second quarter valued at approximately $81,000. Creative Planning purchased a new stake in shares of OPENLANE in the third quarter worth approximately $193,000. Finally, MQS Management LLC purchased a new stake in shares of OPENLANE in the second quarter worth approximately $204,000. 99.76% of the stock is 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.