Openlane (NYSE:OPLN) Upgraded at Zacks Research

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

OPLN has been the topic of several other research reports. Barclays boosted their price target on Openlane from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Northcoast Research upgraded Openlane from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, March 30th. Stephens boosted their price target 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 downgraded Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Openlane from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Openlane currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.50.

Openlane Stock Performance

Openlane stock opened at $31.17 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $28.61. The stock has a market cap of $3.31 billion, a P/E ratio of -26.19 and a beta of 1.24. Openlane has a fifty-two week low of $17.83 and a fifty-two week high of $32.36.

Openlane (NYSE:OPLN) last posted its quarterly earnings results 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). The firm had revenue of $494.30 million for the quarter. Openlane had a net margin of 9.19% and a return on equity of 12.74%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. Openlane has set its FY 2026 guidance at 1.240-1.380 EPS. As a group, analysts predict that Openlane will post 1.34 EPS for the current fiscal year.

Insider Activity at Openlane

In other news, EVP James P. Coyle sold 88,444 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $28.83, for a total value of $2,549,840.52. Following the sale, the executive vice president owned 63,869 shares in the company, valued at $1,841,343.27. This represents a 58.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.32% of the stock is owned by insiders.

Institutional Trading of Openlane

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. purchased a new stake in shares of Openlane in the fourth quarter worth about $348,271,000. Bank of Montreal Can purchased a new stake in shares of Openlane in the fourth quarter worth about $220,158,000. Dimensional Fund Advisors LP purchased a new stake in shares of Openlane in the fourth quarter worth about $200,309,000. State Street Corp purchased a new stake in shares of Openlane in the fourth quarter worth about $127,581,000. Finally, Neuberger Berman Group LLC purchased a new position in Openlane during the fourth quarter worth approximately $103,876,000. 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.