OPENLANE’s (KAR) Outperform Rating Reiterated at Barrington Research

Barrington Research reiterated their outperform rating on shares of OPENLANE (NYSE:KAR) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $25.00 price target on the specialty retailer’s stock.

OPENLANE Stock Performance

Shares of OPENLANE stock opened at $17.47 on Monday. The firm has a fifty day moving average of $16.38 and a two-hundred day moving average of $16.93. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 116.43, a PEG ratio of 1.70 and a beta of 1.44. OPENLANE has a 52 week low of $12.86 and a 52 week high of $18.73.

OPENLANE (NYSE:KAR) last issued its earnings results on Wednesday, August 7th. The specialty retailer reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). OPENLANE had a net margin of 3.39% and a return on equity of 7.85%. The business had revenue of $431.80 million for the quarter, compared to the consensus estimate of $426.11 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue was up 3.6% on a year-over-year basis. As a group, research analysts forecast that OPENLANE will post 0.77 EPS for the current fiscal year.

Institutional Trading of OPENLANE

A number of large investors have recently made changes to their positions in KAR. Burgundy Asset Management Ltd. increased its holdings in OPENLANE by 1.7% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 8,921,967 shares of the specialty retailer’s stock worth $148,015,000 after purchasing an additional 146,266 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in OPENLANE by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,143,903 shares of the specialty retailer’s stock valued at $118,517,000 after purchasing an additional 50,773 shares during the last quarter. River Road Asset Management LLC lifted its stake in OPENLANE by 15.3% in the 3rd quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock valued at $85,161,000 after purchasing an additional 671,104 shares during the last quarter. Invenomic Capital Management LP lifted its stake in OPENLANE by 277.0% in the 1st quarter. Invenomic Capital Management LP now owns 1,529,680 shares of the specialty retailer’s stock valued at $26,463,000 after purchasing an additional 1,123,953 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in OPENLANE by 14.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,441,923 shares of the specialty retailer’s stock valued at $23,922,000 after purchasing an additional 181,130 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

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.