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

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

A number of other research analysts also recently issued reports on the company. StockNews.com downgraded OPENLANE from a “buy” rating to a “hold” rating in a research note on Sunday, January 19th. JPMorgan Chase & Co. increased their price objective on OPENLANE from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Stephens assumed coverage on OPENLANE in a report on Wednesday, January 22nd. They set an “equal weight” rating and a $20.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.60.

OPENLANE Price Performance

Shares of NYSE:KAR opened at $20.61 on Friday. The company has a market capitalization 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. The business has a fifty day moving average price of $20.40 and a two-hundred day moving average price of $18.46. OPENLANE has a 1 year low of $12.86 and a 1 year high of $21.51.

Hedge Funds Weigh In On OPENLANE

Institutional investors and hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board bought a new stake in shares of OPENLANE in the 4th quarter worth approximately $34,000. Quarry LP grew its position in shares of OPENLANE by 414.6% in the 4th quarter. Quarry LP now owns 2,182 shares of the specialty retailer’s stock worth $43,000 after buying an additional 1,758 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of OPENLANE by 435.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,535 shares of the specialty retailer’s stock worth $51,000 after buying an additional 2,062 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of OPENLANE in the 4th quarter worth approximately $68,000. Finally, KBC Group NV lifted its stake in shares of OPENLANE by 51.1% in the 4th quarter. KBC Group NV now owns 5,314 shares of the specialty retailer’s stock valued at $105,000 after purchasing an additional 1,798 shares during the period. 99.76% of the stock is currently owned by institutional investors.

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.