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

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

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

OPENLANE Price Performance

NYSE:KAR opened at $17.69 on Thursday. OPENLANE has a 12-month low of $12.86 and a 12-month high of $17.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 1.15. The stock’s fifty day simple moving average is $16.72 and its 200-day simple moving average is $15.23.

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

Insider Buying and Selling

In other OPENLANE news, CEO Peter J. Kelly acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $14.87 per share, with a total value of $148,700.00. Following the purchase, the chief executive officer now 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 can be accessed through this link. In other OPENLANE news, insider James E. Money II sold 14,822 shares of OPENLANE 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter J. Kelly purchased 10,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was purchased at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the purchase, the chief executive officer now directly owns 323,355 shares in the company, valued at $4,808,288.85. The disclosure for this purchase can be found here. 2.74% of the stock is currently owned by company insiders.

Institutional Trading of OPENLANE

Hedge funds and other institutional investors have recently modified their holdings of the company. TFO Wealth Partners LLC raised its stake in shares of OPENLANE by 16,018.2% in the 4th quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 1,762 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of OPENLANE by 51.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,443 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 1,171 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of OPENLANE in the 4th quarter valued at about $164,000. Oak Thistle LLC bought a new position in shares of OPENLANE in the 4th quarter valued at about $190,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of OPENLANE in the 4th quarter valued at about $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.