Openlane (NYSE:OPLN) Hits New 12-Month High – Time to Buy?

Openlane (NYSE:OPLN) reached a new 52-week high during trading on Monday . The company traded as high as $38.52 and last traded at $37.1120, with a volume of 11655 shares changing hands. The stock had previously closed at $37.89.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays upped their target price on shares of Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Weiss Ratings cut shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, March 3rd. Northcoast Research set a $40.00 price target on shares of Openlane in a research report on Wednesday, May 6th. Finally, Stephens increased their price target on shares of Openlane from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Openlane has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Openlane Stock Down 2.5%

The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -35.41 and a beta of 1.22. 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 company has a 50-day moving average price of $30.13.

Openlane (NYSE:OPLN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $527.90 million for the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, sell-side analysts predict that Openlane will post 1.28 earnings per share for the current fiscal year.

Insider Activity at Openlane

In related news, EVP Tobin P. Richer sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $38.31, for a total value of $153,240.00. Following the sale, the executive vice president owned 24,697 shares of the company’s stock, valued at $946,142.07. This trade represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James P. Coyle sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total transaction of $536,550.00. Following the completion of the sale, the executive vice president directly owned 58,512 shares in the company, valued at approximately $2,092,974.24. This trade represents a 20.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 193,916 shares of company stock valued at $6,334,513 over the last 90 days. 2.22% of the stock is owned by corporate insiders.

Institutional Trading of Openlane

Several hedge funds have recently added to or reduced their stakes in OPLN. Yousif Capital Management LLC acquired a new stake in Openlane in the fourth quarter valued at approximately $857,000. Smith Moore & CO. acquired a new stake in Openlane in the fourth quarter valued at approximately $448,000. State of Alaska Department of Revenue acquired a new stake in Openlane in the fourth quarter valued at approximately $2,211,000. Guidance Capital Inc. acquired a new stake in Openlane in the fourth quarter valued at approximately $770,000. Finally, CWM LLC acquired a new stake in Openlane in the fourth quarter valued at approximately $320,000. Institutional investors and hedge funds 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.