Openlane (NYSE:OPLN) Upgraded by Northcoast Research to “Buy” Rating

Northcoast Research upgraded shares of Openlane (NYSE:OPLN) from a neutral rating to a buy rating in a research note released on Monday morning, Marketbeat reports. The firm currently has $34.00 price target on the stock.

OPLN has been the subject of several other research reports. Weiss Ratings downgraded shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Zacks Research cut Openlane from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Stephens lifted their target price on Openlane from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Barclays boosted their target price on Openlane from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. upped their price target on Openlane from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Three equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.50.

Openlane Stock Performance

Shares of OPLN opened at $27.64 on Monday. The stock’s 50-day simple moving average is $28.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.16 and a quick ratio of 1.16. Openlane has a 1 year low of $17.08 and a 1 year high of $31.78. The firm has a market capitalization of $2.94 billion, a PE ratio of -23.23, a PEG ratio of 1.25 and a beta of 1.29.

Openlane (NYSE:OPLN) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Openlane had a net margin of 9.19% and a return on equity of 12.74%. The business had revenue of $494.30 million during the quarter. During the same period in the prior year, the business earned $0.21 EPS. The business’s quarterly revenue 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 the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $28.83, for a total transaction of $2,549,840.52. Following the sale, 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 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.

Hedge Funds Weigh In On Openlane

Hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. acquired a new stake in Openlane during the fourth quarter worth approximately $72,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Openlane in the 4th quarter valued at $43,820,000. Invesco Ltd. acquired a new position in shares of Openlane in the 4th quarter valued at $87,868,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Openlane in the 4th quarter valued at $215,000. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Openlane in the 4th quarter valued at $1,284,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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.