Openlane (NYSE:OPLN) Cut to Strong Sell at Zacks Research

Openlane (NYSE:OPLN) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. Weiss Ratings began coverage on shares of Openlane in a research report on Thursday, January 15th. They set a “buy (b-)” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Openlane from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Barclays upped their price objective on shares of Openlane from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Finally, Stephens lifted their target price on Openlane from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Openlane presently has an average rating of “Hold” and a consensus target price of $33.33.

Openlane Stock Performance

Shares of NYSE:OPLN opened at $26.14 on Monday. Openlane has a twelve month low of $17.08 and a twelve month high of $31.78. The company has a market cap of $2.78 billion, a P/E ratio of -21.97, a price-to-earnings-growth ratio of 1.23 and a beta of 1.24. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.43.

Openlane (NYSE:OPLN) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Openlane had a return on equity of 12.74% and a net margin of 9.19%.The business had revenue of $494.30 million during the quarter. During the same quarter in the prior year, the company posted $0.21 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.240-1.380 EPS.

Insider Activity at Openlane

In other news, EVP James P. Coyle sold 88,444 shares of Openlane stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $28.83, for a total transaction of $2,549,840.52. Following the sale, the executive vice president directly owned 63,869 shares in the company, valued at approximately $1,841,343.27. The trade was a 58.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Argos Wealth Advisors LLC bought a new position in shares of Openlane during the 4th quarter worth approximately $358,000. Nicholas Company Inc. bought a new stake in Openlane in the fourth quarter valued at $6,380,000. Comerica Bank acquired a new position in Openlane during the fourth quarter worth $951,000. Pictet Asset Management Holding SA bought a new position in shares of Openlane during the fourth quarter valued at $433,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of Openlane in the 4th quarter valued at $2,152,000. Institutional investors and hedge funds 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.