Openlane (NYSE:OPLN) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Openlane (NYSE:OPLN) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Other equities research analysts have also issued reports about the stock. Barclays boosted their target price on shares of Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird set a $40.00 price target on Openlane in a research note on Wednesday, May 6th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Openlane in a report on Thursday, June 11th. Zacks Research upgraded Openlane from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Finally, Bank of America upped their price objective on Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Openlane Stock Performance

Shares of OPLN stock opened at $37.30 on Friday. The company has a 50 day moving average price of $39.19 and a 200-day moving average price of $33.68. Openlane has a 52 week low of $24.32 and a 52 week high of $42.90. The firm has a market capitalization of $4.58 billion, a PE ratio of -43.88, a P/E/G ratio of 2.24 and a beta of 1.28. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

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

Insider Buying and Selling at Openlane

In other news, insider William Clyde Mitchell sold 6,500 shares of Openlane stock in a transaction dated 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 directly owned 15,914 shares of the company’s stock, valued at $573,540.56. The trade was a 29.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Openlane

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Yousif Capital Management LLC purchased a new position in Openlane during the fourth quarter valued at approximately $857,000. Smith Moore & CO. purchased a new stake in shares of Openlane in the fourth quarter worth $448,000. State of Alaska Department of Revenue purchased a new stake in shares of Openlane in the fourth quarter worth $2,211,000. Guidance Capital Inc. bought a new stake in shares of Openlane during the 4th quarter valued at $770,000. Finally, CWM LLC bought a new stake in shares of Openlane during the 4th quarter valued at $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.