Openlane (NYSE:OPLN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Openlane (NYSE:OPLN) has received an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $38.00.

A number of research firms have issued reports on OPLN. Northcoast Research set a $40.00 price target on Openlane in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Openlane from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Robert W. Baird set a $40.00 target price on shares of Openlane in a research report on Wednesday, May 6th. Finally, Barclays lifted their target price on shares of Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th.

Openlane Stock Performance

OPLN stock opened at $35.40 on Tuesday. The firm has a market cap of $3.75 billion, a P/E ratio of -34.70, a P/E/G ratio of 1.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. Openlane has a 52-week low of $21.84 and a 52-week high of $38.52. The company’s 50-day moving average is $31.37.

Openlane (NYSE:OPLN) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $527.90 million during the quarter. Openlane had a return on equity of 13.00% and a net margin of 9.47%.Openlane’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, sell-side analysts forecast that Openlane will post 1.3 earnings per share for the current fiscal year.

Insider Activity

In other Openlane news, EVP James P. Coyle sold 15,000 shares of Openlane 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 transaction, the executive vice president owned 58,512 shares of the company’s stock, valued at $2,092,974.24. This trade represents a 20.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tobin P. Richer sold 66,709 shares of Openlane stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $2,386,180.93. Following the transaction, the executive vice president directly owned 28,697 shares in the company, valued at approximately $1,026,491.69. This represents a 69.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 111,972 shares of company stock worth $4,018,932 in the last quarter. 2.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Openlane

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. bought a new stake in shares of Openlane in the 4th quarter worth approximately $348,271,000. Bank of Montreal Can bought a new stake in shares of Openlane in the 4th quarter worth approximately $220,158,000. Dimensional Fund Advisors LP bought a new stake in shares of Openlane in the 4th quarter worth approximately $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 worth $144,792,000 after purchasing an additional 2,087,200 shares during the period. Finally, State Street Corp bought a new stake in shares of Openlane in the 4th quarter worth approximately $127,581,000. 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.