OPENLANE (NYSE:KAR) Rating Reiterated by Barrington Research

OPENLANE (NYSE:KAR)‘s stock had its “outperform” rating reissued by Barrington Research in a report issued on Friday, Benzinga reports. They currently have a $25.00 price target on the specialty retailer’s stock. Barrington Research’s price target suggests a potential upside of 50.33% from the company’s current price.

OPENLANE Stock Down 1.7 %

OPENLANE stock opened at $16.63 on Friday. The firm has a 50 day moving average price of $17.23 and a 200-day moving average price of $17.06. OPENLANE has a twelve month low of $12.86 and a twelve month high of $18.73. The company has a market capitalization of $1.80 billion, a P/E ratio of -9.29, a P/E/G ratio of 1.65 and a beta of 1.44.

OPENLANE (NYSE:KAR) last announced its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share 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 firm had revenue of $431.80 million for the quarter, compared to the consensus estimate of $426.11 million. During the same period last year, the company posted $0.25 earnings per share. OPENLANE’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts expect that OPENLANE will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On OPENLANE

Large investors have recently modified their holdings of the business. Fifth Third Bancorp lifted its stake in shares of 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 buying an additional 1,018 shares in the last quarter. TFO Wealth Partners LLC lifted its position in shares of OPENLANE by 16,018.2% during the fourth quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 1,762 shares in the last quarter. Quarry LP boosted its holdings in shares of OPENLANE by 201.4% in the second quarter. Quarry LP now owns 2,375 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 1,587 shares during the period. Innealta Capital LLC purchased a new position in shares of OPENLANE in the second quarter valued at $81,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of OPENLANE during the 4th quarter valued at $164,000. Hedge funds and other 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.