OPENLANE (NYSE:KAR – Get Free Report)’s stock had its “outperform” rating restated by equities researchers at Barrington Research in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $25.00 price objective on the specialty retailer’s stock. Barrington Research’s price objective would indicate a potential upside of 73.13% from the company’s current price.
Several other research analysts have also weighed in on KAR. Stephens reiterated an “equal weight” rating and set a $13.00 target price on shares of OPENLANE in a report on Tuesday, December 5th. TheStreet cut OPENLANE from a “c-” rating to a “d+” rating in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.75.
OPENLANE Trading Up 2.0 %
NYSE:KAR traded up $0.29 during mid-day trading on Wednesday, hitting $14.44. The company had a trading volume of 1,035,077 shares, compared to its average volume of 614,617. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.17. OPENLANE has a fifty-two week low of $12.19 and a fifty-two week high of $16.49. The firm has a market cap of $1.56 billion, a P/E ratio of -8.86, a P/E/G ratio of 0.53 and a beta of 1.43. The business’s fifty day moving average is $14.46 and its two-hundred day moving average is $14.70.
OPENLANE (NYSE:KAR – Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. OPENLANE had a negative net margin of 8.07% and a positive return on equity of 8.97%. The business had revenue of $391.30 million for the quarter, compared to the consensus estimate of $392.56 million. During the same period last year, the company posted $0.33 EPS. OPENLANE’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts expect that OPENLANE will post 0.68 earnings per share for the current year.
Institutional Investors Weigh In On OPENLANE
Several institutional investors have recently added to or reduced their stakes in the stock. TFO Wealth Partners LLC lifted its holdings in shares of OPENLANE by 16,018.2% in the fourth 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 in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in OPENLANE in the 2nd quarter valued at approximately $27,000. Quadrant Capital Group LLC lifted its stake in OPENLANE by 2,046.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,910 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 1,821 shares in the last quarter. Royal Bank of Canada boosted its position in OPENLANE by 165.8% during the 3rd quarter. Royal Bank of Canada now owns 2,703 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 1,686 shares during the last quarter. Finally, Castleview Partners LLC bought a new position in shares of OPENLANE during the 2nd quarter worth approximately $38,000. 99.76% of the stock is owned by institutional investors.
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.