Openlane (NYSE:OPLN) Stock Rating Upgraded by Zacks Research

Openlane (NYSE:OPLN) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other research firms have also recently issued reports on OPLN. Bank of America raised their price target on shares of Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays upped their price objective on shares of Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research note 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. Robert W. Baird set a $40.00 target price on shares of Openlane in a research note on Wednesday, May 6th. Finally, Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of Openlane in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.67.

Openlane Trading Down 2.1%

Shares of NYSE OPLN traded down $0.85 during trading on Thursday, reaching $39.88. The company had a trading volume of 407,750 shares, compared to its average volume of 1,098,890. 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 $24.10 and a twelve month high of $42.90. The business’s 50-day simple moving average is $37.69. The stock has a market capitalization of $4.22 billion, a PE ratio of -39.09, a PEG ratio of 2.08 and a beta of 1.26.

Openlane (NYSE:OPLN) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $527.90 million for the quarter. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The firm’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, sell-side analysts predict that Openlane will post 1.31 EPS for the current year.

Insider Activity at Openlane

In other news, EVP Tobin P. Richer sold 66,709 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 28,697 shares in the company, valued at $1,026,491.69. This represents a 69.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Clyde Mitchell sold 6,500 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $573,540.56. The trade was a 29.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 111,972 shares of company stock worth $4,018,932. 2.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Yousif Capital Management LLC acquired a new stake in Openlane during the fourth quarter worth about $857,000. Smith Moore & CO. acquired a new stake in Openlane during the 4th quarter worth approximately $448,000. State of Alaska Department of Revenue acquired a new stake in Openlane during the 4th quarter worth approximately $2,211,000. Guidance Capital Inc. purchased a new position in Openlane in the fourth quarter valued at approximately $770,000. Finally, CWM LLC purchased a new position in Openlane in the fourth quarter valued at approximately $320,000. 99.76% of the stock is owned by hedge funds and other 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.