Openlane (NYSE:OPLN) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Openlane (NYSE:OPLN) from a buy rating to a hold rating in a research note published on Saturday.

OPLN has been the topic of a number of other reports. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Openlane in a report on Thursday, June 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a report on Friday, May 29th. Barclays boosted their target price on Openlane from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America raised their price target on shares of Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised shares of Openlane from a “neutral” rating to an “overweight” rating and raised their price target for the company from $33.00 to $38.00 in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.83.

Openlane Stock Down 1.8%

Shares of Openlane stock opened at $36.95 on Friday. The company has a 50-day simple moving average of $39.21 and a two-hundred day simple moving average of $33.60. The stock has a market capitalization of $4.54 billion, a PE ratio of -43.47, a price-to-earnings-growth ratio of 2.24 and a beta of 1.28. Openlane has a 52-week low of $24.32 and a 52-week high of $42.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.17.

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. The firm had revenue of $554.60 million for the quarter. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. On average, analysts anticipate that Openlane will post 1.47 EPS for the current fiscal year.

Insider Activity

In related news, insider William Clyde Mitchell sold 6,500 shares of the business’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 completion of the transaction, the insider directly owned 15,914 shares in the company, valued at approximately $573,540.56. The trade was a 29.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Openlane in the second quarter worth about $660,070,000. Vanguard Group Inc. purchased a new position in shares of Openlane in the 4th quarter worth $348,271,000. Bank of Montreal Can purchased a new position in Openlane in the fourth quarter worth about $220,158,000. Dimensional Fund Advisors LP bought a new position in shares of Openlane during the 4th quarter valued at approximately $200,309,000. Finally, Hawk Ridge Capital Management LP increased its position in Openlane by 72.5% during the first quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company’s stock valued at $144,792,000 after acquiring an additional 2,087,200 shares during the last quarter. 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.