OPENLANE's (KAR) Outperform Rating Reaffirmed at Barrington Research

Barrington Research restated their outperform rating on shares of OPENLANE (NYSE:KAR - Free Report) in a report issued on Friday morning,Benzinga reports. The brokerage currently has a $25.00 target price on the specialty retailer's stock.

A number of other brokerages have also recently issued reports on KAR. JPMorgan Chase & Co. upped their price objective on shares of OPENLANE from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Wednesday, November 20th. StockNews.com cut shares of OPENLANE from a "buy" rating to a "hold" rating in a research note on Sunday, January 19th. Finally, Stephens assumed coverage on shares of OPENLANE in a research note on Wednesday, January 22nd. They issued an "equal weight" rating and a $20.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, OPENLANE currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.60.

OPENLANE Stock Down 2.5 %

Shares of OPENLANE stock traded down $0.52 during trading on Friday, reaching $20.08. The company's stock had a trading volume of 1,270,748 shares, compared to its average volume of 583,527. OPENLANE has a 52-week low of $12.86 and a 52-week high of $21.51. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 77.23, a PEG ratio of 1.84 and a beta of 1.52. The firm's 50-day moving average is $20.40 and its two-hundred day moving average is $18.48.

Hedge Funds Weigh In On OPENLANE

Institutional investors and hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board purchased a new position in shares of OPENLANE in the fourth quarter worth approximately $34,000. Quarry LP boosted its position in shares of OPENLANE by 414.6% in the fourth quarter. Quarry LP now owns 2,182 shares of the specialty retailer's stock worth $43,000 after purchasing an additional 1,758 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of OPENLANE by 435.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 2,062 shares during the period. Johnson Financial Group Inc. bought a new position in shares of OPENLANE in the fourth quarter worth approximately $68,000. Finally, KBC Group NV boosted its position in shares of OPENLANE by 51.1% in the fourth quarter. KBC Group NV now owns 5,314 shares of the specialty retailer's stock worth $105,000 after purchasing an additional 1,798 shares during the period. Hedge funds and other 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.