Barrington Research Reaffirms Outperform Rating for OPENLANE (NYSE:KAR)

OPENLANE (NYSE:KAR - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Barrington Research in a research note issued on Monday, Benzinga reports. They presently have a $25.00 target price on the specialty retailer's stock. Barrington Research's target price points to a potential upside of 54.32% from the company's current price.

OPENLANE Trading Up 1.9 %

Shares of KAR stock traded up $0.30 during trading hours on Monday, hitting $16.20. 409,030 shares of the company were exchanged, compared to its average volume of 695,063. The company has a market capitalization of $1.76 billion, a PE ratio of 107.60, a PEG ratio of 1.66 and a beta of 1.44. OPENLANE has a 52 week low of $12.86 and a 52 week high of $18.73. The business has a 50 day moving average of $16.43 and a two-hundred day moving average of $16.94.

OPENLANE (NYSE:KAR - Get Free Report) last released 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 net margin of 3.39% and a return on equity of 7.85%. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. On average, research analysts forecast that OPENLANE will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its stake 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 acquiring an additional 1,018 shares during the last quarter. Quarry LP lifted its stake 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. Innealta Capital LLC acquired a new stake in shares of OPENLANE during the 2nd quarter worth about $81,000. Creative Planning acquired a new stake in shares of OPENLANE during the 3rd quarter worth about $193,000. Finally, MQS Management LLC acquired a new stake in shares of OPENLANE during the 2nd quarter worth about $204,000. 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.