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

OPENLANE (NYSE:KAR)‘s stock had its “outperform” rating reaffirmed by equities researchers at Barrington Research in a report released on Friday,Benzinga reports. They currently have a $25.00 price objective on the specialty retailer’s stock. Barrington Research’s target price indicates a potential upside of 21.76% from the stock’s current price.

KAR has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of 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 research report on Wednesday, January 22nd. They set an “equal weight” rating and a $20.00 price target on the stock. Finally, StockNews.com lowered shares of OPENLANE from a “buy” rating to a “hold” rating in a research note on Sunday, January 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

OPENLANE Price Performance

KAR opened at $20.53 on Friday. The stock’s 50 day moving average price is $20.38 and its 200 day moving average price is $18.42. The stock has a market cap of $2.19 billion, a P/E ratio of 78.98, a P/E/G 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 institutional investors and hedge funds have recently bought and sold shares of KAR. Clifford Capital Partners LLC acquired a new position in shares of OPENLANE in the 3rd quarter worth approximately $10,309,000. Geode Capital Management LLC grew its position in OPENLANE by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,475,741 shares of the specialty retailer’s stock worth $41,799,000 after buying an additional 35,214 shares during the last quarter. Barclays PLC increased its holdings in shares of OPENLANE by 344.7% in the third quarter. Barclays PLC now owns 178,964 shares of the specialty retailer’s stock valued at $3,022,000 after buying an additional 138,720 shares in the last quarter. River Road Asset Management LLC lifted its position in shares of OPENLANE by 15.3% during the 3rd quarter. River Road Asset Management LLC now owns 5,045,087 shares of the specialty retailer’s stock valued at $85,161,000 after acquiring an additional 671,104 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of OPENLANE by 20.1% during the 3rd quarter. Raymond James & Associates now owns 292,094 shares of the specialty retailer’s stock worth $4,931,000 after acquiring an additional 48,930 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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.