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

Openlane (NYSE:OPLN) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.

Several other brokerages have also recently commented on OPLN. JPMorgan Chase & Co. upgraded shares of Openlane from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $33.00 to $38.00 in a research report on Wednesday, May 27th. Northcoast Research set a $50.00 price target on shares of Openlane in a research report on Wednesday, August 5th. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of Openlane in a research note on Thursday, June 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a research note on Wednesday, August 26th. Finally, Bank of America boosted their price objective on shares of Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Openlane currently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Openlane Stock Performance

NYSE:OPLN opened at $34.97 on Monday. The company has a market cap of $4.29 billion, a price-to-earnings ratio of -41.14, a PEG ratio of 2.18 and a beta of 1.26. Openlane has a fifty-two week low of $24.32 and a fifty-two week high of $42.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a fifty day moving average price of $37.72 and a 200-day moving average price of $34.48.

Openlane (NYSE:OPLN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Openlane had a return on equity of 12.81% and a net margin of 9.67%.The business had revenue of $554.60 million during the quarter. The firm’s revenue 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 analysts anticipate that Openlane will post 1.45 EPS for the current fiscal year.

Insider Transactions at Openlane

In related news, CEO Peter Kelly acquired 14,830 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of $33.72 per share, with a total value of $500,067.60. Following the purchase, the chief executive officer directly owned 14,830 shares in the company, valued at approximately $500,067.60. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Openlane

A number of hedge funds and other institutional investors have recently modified their holdings of OPLN. PNC Financial Services Group Inc. lifted its stake in shares of Openlane by 6.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,549 shares of the company’s stock valued at $162,000 after acquiring an additional 353 shares during the last quarter. Versant Capital Management Inc grew its position in Openlane by 94.2% during the 2nd quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock worth $40,000 after acquiring an additional 475 shares during the last quarter. Nykredit A S bought a new stake in Openlane during the 2nd quarter worth $46,000. Allworth Financial LP bought a new stake in Openlane during the 4th quarter worth $38,000. Finally, Nomura Asset Management Co. Ltd. acquired a new position in Openlane in the 4th quarter worth about $39,000. 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.