Openlane (NYSE:OPLN) Stock Rating Lowered by Wall Street Zen

Openlane (NYSE:OPLN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other research analysts have also recently issued reports about the company. Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of Openlane in a research report on Thursday, June 11th. Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a research note on Friday, May 29th. Northcoast Research set a $50.00 price target on Openlane in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of Openlane from a “neutral” rating to an “overweight” rating and increased their price target for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th. Finally, Zacks Research raised shares of Openlane from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.83.

Openlane Price Performance

Openlane stock opened at $36.95 on Friday. The stock has a market cap of $4.54 billion, a P/E ratio of -43.47, a price-to-earnings-growth ratio of 2.24 and a beta of 1.28. The company has a fifty day simple moving average of $39.21 and a 200-day simple moving average of $33.63. Openlane has a 12-month low of $24.32 and a 12-month high of $42.90. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34.

Openlane (NYSE:OPLN) last issued its earnings results on Tuesday, August 4th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $554.60 million during the quarter. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Equities analysts expect that Openlane will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Openlane news, insider William Clyde Mitchell sold 6,500 shares of Openlane stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $36.04, for a total transaction of $234,260.00. Following the transaction, the insider owned 15,914 shares of the company’s stock, valued at $573,540.56. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Openlane

A number of hedge funds have recently modified their holdings of OPLN. Salomon & Ludwin LLC purchased a new position in Openlane during the 4th quarter worth $26,000. First Horizon Corp purchased a new stake in shares of Openlane in the fourth quarter valued at about $27,000. Allworth Financial LP acquired a new stake in shares of Openlane during the fourth quarter worth about $38,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Openlane during the fourth quarter worth about $39,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Openlane during the fourth quarter worth about $40,000. 99.76% of the stock is currently owned by hedge funds and other 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.