Openlane (NYSE:OPLN) Upgraded to “Overweight” at JPMorgan Chase & Co.

Openlane (NYSE:OPLN) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a $38.00 target price on the stock, up from their previous target price of $33.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 2.68% from the stock’s current price.

Several other research analysts have also issued reports on OPLN. Robert W. Baird set a $40.00 target price on shares of Openlane in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings cut shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Zacks Research upgraded shares of Openlane from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Northcoast Research set a $40.00 price objective on Openlane in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Openlane has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Openlane Trading Up 3.5%

Shares of OPLN stock traded up $1.26 during trading on Wednesday, reaching $37.01. 402,042 shares of the company’s stock traded hands, compared to its average volume of 889,346. Openlane has a 1 year low of $22.09 and a 1 year high of $38.52. The stock has a 50-day moving average price of $31.53. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $3.92 billion, a P/E ratio of -36.33, a P/E/G ratio of 1.83 and a beta of 1.22.

Openlane (NYSE:OPLN) last released its quarterly earnings data 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. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The company had revenue of $527.90 million for the quarter. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, sell-side analysts predict that Openlane will post 1.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP James P. Coyle sold 15,000 shares of the business’s 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 $536,550.00. Following the transaction, the executive vice president directly owned 58,512 shares of the company’s stock, valued at approximately $2,092,974.24. The trade was a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Clyde Mitchell sold 6,500 shares of Openlane stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total transaction of $234,260.00. Following the completion of the sale, the insider owned 15,914 shares in the company, valued at approximately $573,540.56. This trade represents a 29.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 111,972 shares of company stock valued at $4,018,932 in the last 90 days. 2.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Openlane

Several hedge funds have recently made changes to their positions in the company. Salomon & Ludwin LLC purchased a new position in shares of Openlane during the fourth quarter valued at approximately $26,000. First Horizon Corp purchased a new stake in Openlane during the 4th quarter valued at $27,000. Allworth Financial LP purchased a new position in Openlane in the fourth quarter worth about $38,000. Nomura Asset Management Co. Ltd. bought a new stake in Openlane during the fourth quarter valued at approximately $39,000. Finally, Fifth Third Bancorp purchased a new position in Openlane during the fourth quarter valued at $40,000. 99.76% of the stock is currently owned by institutional investors.

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.