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

Barrington Research restated their outperform rating on shares of OPENLANE (NYSE:KAR) in a research note released on Thursday morning, Benzinga reports. The firm currently has a $25.00 price objective on the specialty retailer’s stock.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird lifted their price objective on OPENLANE from $18.00 to $20.00 and gave the company an outperform rating in a research note on Thursday. Bank of America raised OPENLANE from an underperform rating to a neutral rating and lifted their target price for the company from $16.00 to $20.00 in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $19.60.

OPENLANE Trading Up 0.6 %

NYSE KAR opened at $17.69 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $1.91 billion, a P/E ratio of -9.88, a PEG ratio of 0.96 and a beta of 1.42. The firm’s 50-day moving average is $16.72 and its two-hundred day moving average is $15.24. OPENLANE has a 12 month low of $12.86 and a 12 month high of $17.85.

OPENLANE (NYSE:KAR) last issued its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). The company had revenue of $416.30 million during the quarter, compared to analyst estimates of $425.19 million. OPENLANE had a positive return on equity of 8.53% and a negative net margin of 9.04%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. On average, sell-side analysts anticipate that OPENLANE will post 0.8 earnings per share for the current year.

Insider Buying and Selling

In other OPENLANE news, insider James E. Money II sold 14,822 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $15.83, for a total value of $234,632.26. Following the sale, the insider now owns 44,604 shares of the company’s stock, valued at approximately $706,081.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Peter J. Kelly purchased 10,000 shares of the stock in a transaction on Monday, February 26th. The stock was bought at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the acquisition, the chief executive officer now directly owns 323,355 shares of the company’s stock, valued at approximately $4,808,288.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James E. Money II sold 14,822 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $15.83, for a total transaction of $234,632.26. Following the completion of the sale, the insider now directly owns 44,604 shares in the company, valued at $706,081.32. The disclosure for this sale can be found here. 2.74% of the stock is currently owned by insiders.

Hedge Funds Weigh In On OPENLANE

A number of institutional investors and hedge funds have recently modified their holdings of the company. TFO Wealth Partners LLC lifted its holdings in OPENLANE by 16,018.2% during the 4th quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock worth $26,000 after buying an additional 1,762 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in OPENLANE by 51.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 1,171 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in OPENLANE in the fourth quarter valued at approximately $164,000. Oak Thistle LLC purchased a new position in OPENLANE in the fourth quarter valued at approximately $190,000. Finally, Capstone Investment Advisors LLC acquired a new stake in OPENLANE during the fourth quarter worth approximately $221,000. Institutional investors and hedge funds 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.