Stephens Reaffirms “Overweight” Rating for Openlane (NYSE:OPLN)

Openlane (NYSE:OPLN)‘s stock had its “overweight” rating restated by research analysts at Stephens in a report released on Thursday,Benzinga reports. They currently have a $42.00 target price on the stock. Stephens’ price objective suggests a potential upside of 11.11% from the company’s previous close.

OPLN has been the subject of a number of other reports. JPMorgan Chase & Co. raised Openlane from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $33.00 to $38.00 in a research report on Wednesday, May 27th. Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Barclays lifted their price target 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. Robert W. Baird set a $40.00 price target on shares of Openlane in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a research report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Openlane Trading Up 3.0%

Openlane stock opened at $37.80 on Thursday. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of -37.02, a P/E/G ratio of 1.91 and a beta of 1.27. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. Openlane has a twelve month low of $22.09 and a twelve month high of $38.82. The stock’s fifty day moving average is $33.75.

Openlane (NYSE:OPLN) last released its 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. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The firm had revenue of $527.90 million during the quarter. During the same quarter last year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Sell-side analysts predict that Openlane will post 1.31 earnings per share for the current year.

Insider Activity at Openlane

In other news, EVP Tobin P. Richer sold 66,709 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 $2,386,180.93. Following the completion of the sale, the executive vice president owned 28,697 shares in the company, valued at approximately $1,026,491.69. The trade was a 69.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Clyde Mitchell sold 6,500 shares of the company’s 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 transaction, the insider owned 15,914 shares of the company’s stock, valued at approximately $573,540.56. The trade was a 29.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 111,972 shares of company stock valued at $4,018,932. Company insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Openlane

Several hedge funds and other institutional investors have recently bought and sold shares of OPLN. PNC Financial Services Group Inc. grew its holdings in shares of Openlane by 6.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,549 shares of the company’s stock worth $162,000 after purchasing an additional 353 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Openlane during the fourth quarter worth about $26,000. First Horizon Corp purchased a new stake in shares of Openlane in the 4th quarter valued at about $27,000. Allworth Financial LP purchased a new stake in shares of Openlane in the 4th quarter valued at about $38,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Openlane in the 4th quarter valued at about $39,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.

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.