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

OPENLANE (NYSE:KAR)‘s stock had its “outperform” rating restated by research analysts at Barrington Research in a note issued to investors on Thursday, Benzinga reports. They currently have a $25.00 price target on the specialty retailer’s stock. Barrington Research’s target price would suggest a potential upside of 43.10% from the company’s previous close.

KAR has been the subject of a number of other research reports. Bank of America raised OPENLANE from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $16.00 to $20.00 in a report on Wednesday, April 10th. Robert W. Baird upped their target price on OPENLANE from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.60.

OPENLANE Stock Up 0.1 %

OPENLANE stock traded up $0.02 during midday trading on Thursday, reaching $17.47. The stock had a trading volume of 1,215,778 shares, compared to its average volume of 758,855. 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 firm’s fifty day simple moving average is $16.61 and its 200-day simple moving average is $15.19. The stock has a market capitalization of $1.89 billion, a P/E ratio of -9.55, a price-to-earnings-growth ratio of 0.93 and a beta of 1.42. OPENLANE has a 1-year low of $12.86 and a 1-year high of $17.79.

OPENLANE (NYSE:KAR) last issued its earnings results 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 business had revenue of $416.30 million for the quarter, compared to the consensus estimate of $425.19 million. OPENLANE had a positive return on equity of 7.49% and a negative net margin of 9.37%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.12 earnings per share. As a group, analysts expect that OPENLANE will post 0.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Peter J. Kelly acquired 10,000 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer now owns 323,355 shares in the company, valued at $4,808,288.85. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, insider James E. Money II sold 14,822 shares of the business’s stock in a transaction 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 owns 44,604 shares of the company’s stock, valued at approximately $706,081.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Peter J. Kelly bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $14.87 per share, with a total value of $148,700.00. Following the acquisition, the chief executive officer now directly owns 323,355 shares in the company, valued at approximately $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

Institutional investors have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC increased its holdings in OPENLANE by 16,018.2% during the fourth quarter. TFO Wealth Partners LLC now owns 1,773 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 1,762 shares during the period. Allspring Global Investments Holdings LLC increased its holdings 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 valued at $51,000 after buying an additional 1,171 shares during the period. Teacher Retirement System of Texas purchased a new position in OPENLANE during the fourth quarter valued at approximately $164,000. Oak Thistle LLC purchased a new position in OPENLANE during the fourth quarter valued at approximately $190,000. Finally, Capstone Investment Advisors LLC purchased a new position in OPENLANE in the fourth quarter worth $221,000. 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.