Openlane (NYSE:OPLN) Rating Increased to Overweight at JPMorgan Chase & Co.

Openlane (NYSE:OPLN) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a $38.00 target price on the stock, up from their previous target price of $33.00. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 2.68% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Northcoast Research set a $40.00 price objective on shares of Openlane in a report on Wednesday, May 6th. Robert W. Baird set a $40.00 target price on shares of Openlane in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings downgraded Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Openlane Stock Up 3.5%

NYSE:OPLN traded up $1.26 on Wednesday, hitting $37.01. The stock had a trading volume of 402,042 shares, compared to its average volume of 889,346. The company’s fifty day moving average price is $31.53. The company has a market cap of $3.92 billion, a P/E ratio of -36.33, a PEG ratio of 1.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. Openlane has a 52 week low of $22.09 and a 52 week high of $38.52.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The firm had revenue of $527.90 million during the quarter. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Equities analysts predict that Openlane will post 1.3 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Openlane

A number of hedge funds have recently bought and sold shares of OPLN. Vanguard Group Inc. bought a new position in Openlane in the 4th quarter valued at $348,271,000. Bank of Montreal Can bought a new stake in shares of Openlane during the 4th quarter worth $220,158,000. Dimensional Fund Advisors LP purchased a new position in shares of Openlane in the 4th quarter worth about $200,309,000. State Street Corp purchased a new position in shares of Openlane in the 4th quarter worth about $127,581,000. Finally, Neuberger Berman Group LLC bought a new position in Openlane during the fourth quarter valued at about $103,876,000. 99.76% of the stock is currently 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.