Openlane (NYSE:OPLN) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Openlane (NYSE:OPLN) from a hold rating to a strong-buy rating in a report published on Thursday,Zacks.com reports.

Several other research analysts also recently weighed in on OPLN. Bank of America increased their price target on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday. Northcoast Research set a $40.00 price objective on shares of Openlane in a 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. 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 note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upgraded shares of Openlane from a “neutral” rating to an “overweight” rating and upped their price target for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.67.

Openlane Stock Down 2.1%

Openlane stock traded down $0.85 during trading on Thursday, hitting $39.88. The stock had a trading volume of 407,750 shares, compared to its average volume of 1,098,890. Openlane has a 1 year low of $24.10 and a 1 year high of $42.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The company’s 50 day moving average price is $37.69. The firm has a market cap of $4.22 billion, a PE ratio of -39.09, a price-to-earnings-growth ratio of 2.08 and a beta of 1.26.

Openlane (NYSE:OPLN) last released its earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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%.The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, equities research analysts anticipate that Openlane will post 1.31 EPS for the current fiscal year.

Insider Activity

In related news, EVP James P. Coyle sold 15,000 shares of the business’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 transaction, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Clyde Mitchell sold 6,500 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 15,914 shares in the company, valued at $573,540.56. This trade represents a 29.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 111,972 shares of company stock valued at $4,018,932. Corporate insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Handelsbanken Fonder AB grew its position in shares of Openlane by 10.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 31,525 shares of the company’s stock valued at $1,300,000 after purchasing an additional 2,900 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Openlane in the second quarter worth $475,000. Versant Capital Management Inc boosted its stake in Openlane by 94.2% during the second quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock valued at $40,000 after buying an additional 475 shares during the period. Pacer Advisors Inc. bought a new stake in Openlane during the first quarter valued at $159,000. Finally, Prospect Capital Advisors LLC purchased a new position in Openlane during the first quarter worth about $2,437,000. 99.76% of the stock is owned by institutional investors.

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.