Openlane (NYSE:OPLN) Upgraded at Northcoast Research

Northcoast Research upgraded shares of Openlane (NYSE:OPLN) from a neutral rating to a buy rating in a report published on Monday, MarketBeat Ratings reports. The brokerage currently has $34.00 price target on the stock.

A number of other brokerages also recently commented on OPLN. Barclays increased their price objective on Openlane from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Zacks Research cut Openlane from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. boosted their target price on Openlane from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Weiss Ratings downgraded Openlane from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, March 3rd. Finally, Stephens increased their price target on Openlane from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.50.

Openlane Price Performance

Shares of OPLN opened at $29.44 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a 50 day simple moving average of $28.43. Openlane has a 12-month low of $17.08 and a 12-month high of $31.78. The firm has a market cap of $3.13 billion, a PE ratio of -24.74, a P/E/G ratio of 1.36 and a beta of 1.23.

Openlane (NYSE:OPLN) last released its 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). The business had revenue of $494.30 million for the quarter. Openlane had a net margin of 9.19% and a return on equity of 12.74%. Openlane’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. Openlane has set its FY 2026 guidance at 1.240-1.380 EPS.

Insider Buying and Selling

In related news, EVP James P. Coyle sold 88,444 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $28.83, for a total value of $2,549,840.52. Following the completion of the transaction, the executive vice president owned 63,869 shares of the company’s stock, valued at approximately $1,841,343.27. This trade represents a 58.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.32% of the company’s stock.

Institutional Trading of Openlane

Several large investors have recently added to or reduced their stakes in OPLN. Salomon & Ludwin LLC acquired a new stake in shares of Openlane in the fourth quarter worth $26,000. First Horizon Corp purchased a new position in shares of Openlane during the fourth quarter valued at $27,000. Allworth Financial LP acquired a new position in Openlane during the fourth quarter valued at $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in Openlane in the 4th quarter worth about $39,000. Finally, Fifth Third Bancorp purchased a new stake in Openlane in the 4th quarter worth about $40,000. 99.76% of the stock is owned by institutional investors and hedge funds.

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.