Openlane (NYSE:OPLN) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Openlane (NYSE:OPLN) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks reports.

OPLN has been the subject of several other reports. Stephens restated an “overweight” rating and set a $42.00 price target on shares of Openlane in a research note on Thursday, June 11th. Wall Street Zen cut Openlane from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Northcoast Research set a $50.00 target price on Openlane in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised shares of Openlane from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $33.00 to $38.00 in a research report on Wednesday, May 27th. Finally, Barclays raised their price target on shares of Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.83.

Openlane Stock Performance

Shares of OPLN stock opened at $34.97 on Monday. 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 firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of -41.14, a price-to-earnings-growth ratio of 2.18 and a beta of 1.26. Openlane has a one year low of $24.32 and a one year high of $42.90. The company has a 50 day moving average price of $37.72 and a 200 day moving average price of $34.48.

Openlane (NYSE:OPLN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company 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 was up 15.1% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Sell-side analysts anticipate that Openlane will post 1.45 EPS for the current year.

Insider Activity

In related news, CEO Peter Kelly bought 14,830 shares of the stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $33.72 per share, for a total transaction of $500,067.60. Following the completion of the purchase, the chief executive officer owned 14,830 shares in the company, valued at $500,067.60. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Openlane

A number of institutional investors and hedge funds have recently bought and sold shares of OPLN. PNC Financial Services Group Inc. raised its stake 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 valued at $162,000 after purchasing an additional 353 shares during the period. Versant Capital Management Inc boosted its stake in shares of Openlane by 94.2% in the second quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock valued at $40,000 after purchasing an additional 475 shares during the period. Nykredit A S purchased a new position in shares of Openlane in the second quarter valued at $46,000. Allworth Financial LP acquired a new stake in Openlane during the 4th quarter valued at $38,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in Openlane during the 4th quarter valued at $39,000. Hedge funds and other 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.