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

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

Other equities research analysts have also issued reports about the company. Robert W. Baird boosted their target price on OPENLANE from $18.00 to $20.00 and gave the stock an outperform rating in a research report on Thursday. Bank of America raised OPENLANE from an underperform rating to a neutral rating and boosted their target price for the stock from $16.00 to $20.00 in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $19.60.

OPENLANE Price Performance

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

OPENLANE (NYSE:KAR) last announced its earnings results on Wednesday, May 1st. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The company had revenue of $416.30 million for 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 firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. Equities research analysts predict that OPENLANE will post 0.8 EPS for the current fiscal year.

Insider Activity at OPENLANE

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in OPENLANE by 77.4% in the first quarter. BNP Paribas Financial Markets now owns 53,777 shares of the specialty retailer’s stock valued at $930,000 after purchasing an additional 23,462 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in OPENLANE in the first quarter valued at about $242,000. Hawk Ridge Capital Management LP grew its stake in OPENLANE by 5.3% in the fourth quarter. Hawk Ridge Capital Management LP now owns 3,900,178 shares of the specialty retailer’s stock valued at $57,762,000 after purchasing an additional 195,200 shares in the last quarter. Invenomic Capital Management LP bought a new stake in shares of OPENLANE during the 4th quarter worth about $6,009,000. Finally, CenterBook Partners LP bought a new stake in shares of OPENLANE during the 4th quarter worth about $4,069,000. 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.