OPENLANE (NYSE:KAR) Given “Outperform” Rating at Barrington Research

OPENLANE (NYSE:KAR)‘s stock had its “outperform” rating reissued by investment analysts at Barrington Research in a research note issued to investors on Friday,Benzinga reports. They currently have a $25.00 price target on the specialty retailer’s stock. Barrington Research’s price objective points to a potential upside of 21.76% from the company’s previous close.

KAR has been the topic of several other reports. JPMorgan Chase & Co. boosted their target price 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. StockNews.com lowered OPENLANE from a “buy” rating to a “hold” rating in a research report on Sunday, January 19th. Finally, Stephens began coverage on OPENLANE in a research report on Wednesday, January 22nd. They set an “equal weight” rating and a $20.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, OPENLANE has an average rating of “Moderate Buy” and a consensus price target of $21.60.

OPENLANE Price Performance

KAR stock opened at $20.53 on Friday. The firm has a market capitalization 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 52-week low of $12.86 and a 52-week high of $21.51. The company’s 50 day simple moving average is $20.38 and its 200-day simple moving average is $18.42.

Institutional Trading of OPENLANE

Several hedge funds and other institutional investors have recently modified their holdings of the company. Inspire Investing LLC increased its position in OPENLANE by 14.9% in the 3rd quarter. Inspire Investing LLC now owns 24,415 shares of the specialty retailer’s stock worth $412,000 after purchasing an additional 3,174 shares during the last quarter. Creative Planning bought a new stake in shares of OPENLANE in the 3rd quarter valued at approximately $193,000. Raymond James & Associates increased its holdings in OPENLANE by 20.1% in the third quarter. Raymond James & Associates now owns 292,094 shares of the specialty retailer’s stock worth $4,931,000 after buying an additional 48,930 shares during the last quarter. Everence Capital Management Inc. raised its position in OPENLANE by 20.5% during the third quarter. Everence Capital Management Inc. now owns 14,500 shares of the specialty retailer’s stock valued at $245,000 after acquiring an additional 2,470 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in OPENLANE by 1,588.0% in the third quarter. International Assets Investment Management LLC now owns 19,834 shares of the specialty retailer’s stock valued at $335,000 after acquiring an additional 18,659 shares during the last quarter. 99.76% of the stock is currently owned by hedge funds and other 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.