Openlane (NYSE:OPLN) Raised to “Hold” at Zacks Research

Openlane (NYSE:OPLN) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Stephens upped their target price on Openlane from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Weiss Ratings cut Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. upped their target price on Openlane from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Barclays increased their price objective on Openlane from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Finally, Northcoast Research raised Openlane from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Monday, March 30th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Openlane currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.50.

Openlane Price Performance

Shares of OPLN stock traded up $0.18 during trading hours on Monday, hitting $31.40. The stock had a trading volume of 76,938 shares, compared to its average volume of 884,004. Openlane has a one year low of $17.83 and a one year high of $32.36. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $28.61. The stock has a market capitalization of $3.34 billion, a PE ratio of -26.39 and a beta of 1.24.

Openlane (NYSE:OPLN) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Openlane had a return on equity of 12.74% and a net margin of 9.19%.The company had revenue of $494.30 million for the quarter. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Openlane’s revenue was up 8.6% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.240-1.380 EPS. As a group, equities research analysts predict that Openlane will post 1.34 earnings per share for the current fiscal year.

Insider Transactions at Openlane

In other Openlane news, EVP James P. Coyle sold 88,444 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $28.83, for a total transaction of $2,549,840.52. Following the sale, the executive vice president owned 63,869 shares of the company’s stock, valued at approximately $1,841,343.27. This trade represents a 58.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.32% of the company’s stock.

Institutional Trading of Openlane

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Yousif Capital Management LLC purchased a new position in Openlane in the 4th quarter worth $857,000. Smith Moore & CO. purchased a new position in Openlane in the 4th quarter worth $448,000. State of Alaska Department of Revenue purchased a new position in Openlane in the 4th quarter worth $2,211,000. Guidance Capital Inc. purchased a new position in Openlane in the 4th quarter worth $770,000. Finally, CWM LLC purchased a new position in Openlane in the 4th quarter worth $320,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Openlane Company Profile

Openlane, Inc operates a digital wholesale vehicle marketplace that facilitates the remarketing of used vehicles for commercial consignors and retail dealers. The company provides an online auction platform that enables buyers and sellers to transact in real time, connecting franchised and independent dealers, fleet operators, rental companies, manufacturers and financial institutions. Its marketplace focuses on vehicles from lease returns, fleet and commercial fleets, repossessions and dealer trade-ins.

In addition to the core auction and listing services, Openlane offers a suite of remarketing support services designed to simplify the end-to-end sale process.