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

Openlane (NYSE:OPLN - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

Other equities analysts also recently issued reports about the company. Barclays increased their target price on Openlane from $46.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Bank of America boosted their price target on Openlane from $37.00 to $44.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Wall Street Zen downgraded Openlane from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Openlane in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. upgraded shares of Openlane from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $33.00 to $38.00 in a research report on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Openlane has a consensus rating of "Moderate Buy" and a consensus price target of $43.83.

Openlane Stock Performance

Shares of Openlane stock opened at $34.97 on Monday. The company's 50 day moving average price is $37.72 and its two-hundred day moving average price is $34.48. The firm has a market capitalization of $4.29 billion, a P/E ratio of -41.14, a P/E/G ratio of 2.18 and a beta of 1.26. Openlane has a fifty-two week low of $24.32 and a fifty-two week high of $42.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17.

Openlane (NYSE:OPLN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. Openlane had a net margin of 9.67% and a return on equity of 12.81%. The company had revenue of $554.60 million during the quarter. The company's revenue 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, equities analysts forecast that Openlane will post 1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Openlane

In related news, CEO Peter Kelly purchased 14,830 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was bought at an average price of $33.72 per share, with a total value of $500,067.60. Following the completion of the purchase, the chief executive officer owned 14,830 shares in the company, valued at approximately $500,067.60. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.22% of the company's stock.

Hedge Funds Weigh In On Openlane

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Openlane during the 2nd quarter valued at approximately $660,070,000. Bank of Montreal Can bought a new stake in shares of Openlane in the 4th quarter valued at $220,158,000. Dimensional Fund Advisors LP acquired a new stake in shares of Openlane during the fourth quarter worth $200,309,000. California State Teachers Retirement System raised its stake in Openlane by 3,908.8% during the second quarter. California State Teachers Retirement System now owns 5,103,409 shares of the company's stock worth $210,465,000 after buying an additional 4,976,105 shares during the last quarter. Finally, Hawk Ridge Capital Management LP raised its stake 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 worth $144,792,000 after buying an additional 2,087,200 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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.

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