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

OPENLANE (NYSE:KAR - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Barrington Research in a research note issued to investors on Friday,Benzinga reports. They presently have a $25.00 price objective on the specialty retailer's stock. Barrington Research's target price would indicate a potential upside of 16.58% from the company's previous close.

Several other equities analysts have also commented on KAR. Stephens started coverage on OPENLANE in a research note on Wednesday, January 22nd. They set an "equal weight" rating and a $20.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of OPENLANE from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. Finally, StockNews.com upgraded shares of OPENLANE from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $21.60.

OPENLANE Stock Up 2.4 %

KAR traded up $0.50 on Friday, reaching $21.44. 886,760 shares of the company traded hands, compared to its average volume of 641,002. The company has a market cap of $2.29 billion, a P/E ratio of 40.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.52. The firm has a fifty day simple moving average of $20.42 and a two-hundred day simple moving average of $18.64. OPENLANE has a one year low of $14.73 and a one year high of $21.93.

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OPENLANE (NYSE:KAR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. OPENLANE had a return on equity of 9.20% and a net margin of 6.27%. The firm had revenue of $455.00 million during the quarter, compared to analyst estimates of $416.64 million. On average, equities analysts forecast that OPENLANE will post 0.95 earnings per share for the current year.

Hedge Funds Weigh In On OPENLANE

A number of large investors have recently added to or reduced their stakes in KAR. Verdence Capital Advisors LLC grew its position in shares of OPENLANE by 5.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 15,822 shares of the specialty retailer's stock worth $267,000 after buying an additional 793 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in OPENLANE by 0.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 112,320 shares of the specialty retailer's stock worth $1,896,000 after purchasing an additional 1,018 shares during the last quarter. Bank of Montreal Can grew its holdings in OPENLANE by 9.6% in the fourth quarter. Bank of Montreal Can now owns 13,268 shares of the specialty retailer's stock worth $263,000 after purchasing an additional 1,161 shares during the last quarter. Two Sigma Investments LP increased its position in shares of OPENLANE by 1.1% during the fourth quarter. Two Sigma Investments LP now owns 126,451 shares of the specialty retailer's stock worth $2,509,000 after purchasing an additional 1,339 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of OPENLANE by 6.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 23,889 shares of the specialty retailer's stock valued at $403,000 after purchasing an additional 1,472 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

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.