Openlane (NYSE:OPLN) Upgraded to Strong-Buy at Zacks Research

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

Several other research firms have also weighed in on OPLN. Barclays upped their price objective on Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $40.00 price target on Openlane in a research note on Wednesday, May 6th. Wall Street Zen upgraded Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a research note on Friday, May 29th. Finally, Stephens reissued an “overweight” rating and set a $42.00 price objective on shares of Openlane in a report on Thursday, June 11th. One research 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. Based on data from MarketBeat.com, Openlane currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

Openlane Trading Down 2.1%

Shares of NYSE OPLN opened at $39.88 on Thursday. The company has a 50-day simple moving average of $37.69. Openlane has a 52 week low of $24.10 and a 52 week 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 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 announced 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. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The business had revenue of $527.90 million during the quarter. During the same period in the prior year, the company posted $0.31 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, research analysts expect that Openlane will post 1.31 earnings per share for the current year.

Insider Buying and Selling at Openlane

In other news, EVP Charles S. Coleman sold 19,763 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total value of $708,701.18. Following the sale, the executive vice president owned 74,334 shares of the company’s stock, valued at $2,665,617.24. The trade was a 21.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tobin P. Richer sold 4,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $38.31, for a total transaction of $153,240.00. Following the transaction, the executive vice president directly owned 24,697 shares of the company’s stock, valued at $946,142.07. The trade was a 13.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 111,972 shares of company stock worth $4,018,932. Company insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Openlane

A number of institutional investors have recently made changes to their positions in OPLN. Salomon & Ludwin LLC acquired a new position in shares of Openlane during the fourth quarter valued at about $26,000. First Horizon Corp bought a new position in shares of Openlane during the 4th quarter worth about $27,000. Allworth Financial LP acquired a new stake in shares of Openlane in the 4th quarter valued at about $38,000. Nomura Asset Management Co. Ltd. bought a new stake in Openlane in the 4th quarter valued at about $39,000. Finally, Fifth Third Bancorp acquired a new position in Openlane during the 4th quarter worth approximately $40,000. Institutional investors own 99.76% of the company’s stock.

Openlane Company Profile

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.