Brokerages Set Openlane (NYSE:OPLN) PT at $33.50

Shares of Openlane (NYSE:OPLN) have been assigned a consensus rating of “Hold” from the six research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $33.50.

A number of research firms recently weighed in on OPLN. 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. Barclays raised their price objective on Openlane from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Northcoast Research raised Openlane from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Monday. Zacks Research lowered Openlane from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings cut shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd.

Insiders Place Their Bets

In related news, EVP James P. Coyle sold 88,444 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.32% of the company’s stock.

Hedge Funds Weigh In On Openlane

A number of hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. purchased a new position in shares of Openlane in the fourth quarter valued at approximately $72,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Openlane during the fourth quarter worth approximately $43,820,000. Invesco Ltd. acquired a new position in Openlane in the 4th quarter valued at $87,868,000. Mercer Global Advisors Inc. ADV acquired a new position in Openlane in the 4th quarter valued at $215,000. Finally, State of Tennessee Department of Treasury purchased a new position in Openlane in the 4th quarter valued at $1,284,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Openlane Trading Up 1.0%

Openlane stock opened at $29.44 on Monday. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -24.74, a PEG ratio of 1.36 and a beta of 1.23. Openlane has a 12 month low of $17.08 and a 12 month high of $31.78. The stock has a 50 day moving average of $28.43. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.43.

Openlane (NYSE:OPLN) last released 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). The firm 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%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. Openlane has set its FY 2026 guidance at 1.240-1.380 EPS.

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.