Openlane (NYSE:OPLN) Price Target Raised to $44.00 at Bank of America

Openlane (NYSE:OPLN) had its target price lifted by investment analysts at Bank of America from $37.00 to $44.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 11.05% from the stock’s previous close.

Several other research analysts also recently weighed in on OPLN. Robert W. Baird set a $40.00 target price on shares of Openlane in a research report on Wednesday, May 6th. Barclays lifted their price objective 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. Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a report on Friday, May 29th. Wall Street Zen raised Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research raised Openlane from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.67.

Openlane Stock Down 3.8%

Shares of NYSE OPLN opened at $39.62 on Thursday. 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 12 month low of $24.10 and a 12 month high of $42.90. The stock has a market capitalization of $4.20 billion, a P/E ratio of -38.85, a price-to-earnings-growth ratio of 2.11 and a beta of 1.26. The company’s fifty day moving average is $37.35.

Openlane (NYSE:OPLN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, topping 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 firm had revenue of $527.90 million for the quarter. During the same period in the prior year, the business posted $0.31 EPS. The company’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 expect that Openlane will post 1.31 EPS for the current fiscal year.

Insider Activity at Openlane

In related news, insider William Clyde Mitchell sold 6,500 shares of Openlane stock in a transaction 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 completion of the sale, the insider owned 15,914 shares of the company’s stock, valued at approximately $573,540.56. This trade represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James P. Coyle sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total value of $536,550.00. Following the completion of the transaction, the executive vice president owned 58,512 shares in the company, valued at $2,092,974.24. This trade represents a 20.40% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 111,972 shares of company stock valued at $4,018,932. Insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Openlane

Large investors have recently made changes to their positions in the company. Yousif Capital Management LLC acquired a new stake in Openlane in the fourth quarter valued at approximately $857,000. Smith Moore & CO. bought a new position in Openlane during the fourth quarter valued at about $448,000. State of Alaska Department of Revenue acquired a new stake in shares of Openlane in the fourth quarter worth about $2,211,000. Guidance Capital Inc. bought a new stake in shares of Openlane during the 4th quarter worth about $770,000. Finally, CWM LLC bought a new position in shares of Openlane in the 4th quarter valued at approximately $320,000. Institutional investors own 99.76% of the company’s stock.

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.