Barrington Research Reaffirms “Outperform” Rating for OPENLANE (NYSE:KAR)

OPENLANE (NYSE:KAR)‘s stock had its “outperform” rating reissued by investment analysts at Barrington Research in a report released on Friday,Benzinga reports. They presently have a $25.00 price target on the specialty retailer’s stock. Barrington Research’s target price suggests a potential upside of 21.33% from the stock’s current price.

Several other research firms also recently commented on KAR. JPMorgan Chase & Co. upped their price objective on OPENLANE from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Stephens initiated coverage on shares of OPENLANE in a report on Wednesday, January 22nd. They issued an “equal weight” rating and a $20.00 target price on the stock. Finally, StockNews.com cut shares of OPENLANE from a “buy” rating to a “hold” rating in a report on Sunday, January 19th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

OPENLANE Trading Up 0.2 %

Shares of KAR opened at $20.61 on Friday. The company’s 50 day simple moving average is $20.40 and its 200-day simple moving average is $18.46. The firm has a market cap of $2.20 billion, a PE ratio of 79.25, a price-to-earnings-growth ratio of 1.84 and a beta of 1.52. OPENLANE has a 12-month low of $12.86 and a 12-month high of $21.51.

Institutional Investors Weigh In On OPENLANE

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank increased its stake in OPENLANE by 9.3% in the 4th quarter. Comerica Bank now owns 63,942 shares of the specialty retailer’s stock valued at $1,269,000 after purchasing an additional 5,437 shares in the last quarter. PDT Partners LLC boosted its position in shares of OPENLANE by 8.5% in the 4th quarter. PDT Partners LLC now owns 42,169 shares of the specialty retailer’s stock worth $837,000 after buying an additional 3,317 shares in the last quarter. Lido Advisors LLC grew its stake in OPENLANE by 34.6% in the 4th quarter. Lido Advisors LLC now owns 15,058 shares of the specialty retailer’s stock valued at $299,000 after acquiring an additional 3,870 shares during the last quarter. Northern Trust Corp increased its holdings in OPENLANE by 3.5% during the 4th quarter. Northern Trust Corp now owns 1,366,918 shares of the specialty retailer’s stock valued at $27,120,000 after acquiring an additional 46,041 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in OPENLANE by 6.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 56,365 shares of the specialty retailer’s stock worth $1,118,000 after acquiring an additional 3,229 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

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.