Openlane (NYSE:OPLN) Sets New 52-Week High – Time to Buy?

Openlane (NYSE:OPLN)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $39.52 and last traded at $39.50, with a volume of 66133 shares trading hands. The stock had previously closed at $38.50.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Openlane in a report on Thursday, June 11th. JPMorgan Chase & Co. upgraded shares of Openlane from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $33.00 to $38.00 in a research note on Wednesday, May 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Openlane in a report on Friday, May 29th. Robert W. Baird set a $40.00 price objective on Openlane in a report on Wednesday, May 6th. Finally, Wall Street Zen raised Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Openlane Stock Up 0.7%

The firm’s 50-day moving average is $35.65. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $4.20 billion, a P/E ratio of -38.90, a P/E/G ratio of 2.02 and a beta of 1.27.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The company had revenue of $527.90 million during the quarter. During the same period last year, the business posted $0.31 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, analysts forecast that Openlane will post 1.31 earnings per share for the current year.

Insider Buying and Selling

In other Openlane news, EVP Charles S. Coleman sold 19,763 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $35.86, for a total value of $708,701.18. Following the completion of the transaction, the executive vice president owned 74,334 shares in the company, valued at $2,665,617.24. This trade represents a 21.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James P. Coyle sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total value of $536,550.00. Following the sale, the executive vice president owned 58,512 shares in the company, valued at approximately $2,092,974.24. This represents a 20.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 111,972 shares of company stock worth $4,018,932. Company insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. bought a new position in shares of Openlane in the fourth quarter worth $348,271,000. Bank of Montreal Can purchased a new position in Openlane during the fourth quarter worth about $220,158,000. Dimensional Fund Advisors LP bought a new position in Openlane in the 4th quarter worth about $200,309,000. Hawk Ridge Capital Management LP raised its holdings in shares of Openlane by 72.5% in the 1st quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company’s stock valued at $144,792,000 after acquiring an additional 2,087,200 shares in the last quarter. Finally, State Street Corp bought a new stake in shares of Openlane during the 4th quarter valued at about $127,581,000. 99.76% of the stock is owned by institutional investors.

About Openlane

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.