Openlane (NYSE:OPLN) Reaches New 52-Week High – Time to Buy?

Openlane (NYSE:OPLN) hit a new 52-week high during trading on Thursday . The stock traded as high as $38.82 and last traded at $38.7450, with a volume of 996100 shares trading hands. The stock had previously closed at $36.69.

Analysts Set New Price Targets

Several brokerages have recently commented on OPLN. Stephens reaffirmed an “overweight” rating and set a $42.00 target price on shares of Openlane in a report on Thursday. Zacks Research upgraded shares of Openlane from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. JPMorgan Chase & Co. upgraded shares of Openlane from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $33.00 to $38.00 in a report on Wednesday, May 27th. Robert W. Baird set a $40.00 price target on shares of Openlane in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Openlane Price Performance

The stock has a market cap of $4.11 billion, a price-to-earnings ratio of -37.99, a PEG ratio of 1.91 and a beta of 1.27. The firm has a fifty day simple moving average of $33.75. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.42.

Openlane (NYSE:OPLN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $527.90 million for the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. Openlane’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Equities analysts anticipate that Openlane will post 1.31 EPS for the current year.

Insiders Place Their Bets

In other Openlane news, EVP Charles S. Coleman sold 19,763 shares of Openlane stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $35.86, for a total value of $708,701.18. Following the transaction, the executive vice president directly owned 74,334 shares of the company’s stock, valued at $2,665,617.24. The trade was a 21.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James P. Coyle sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $536,550.00. Following the completion of the sale, the executive vice president owned 58,512 shares in the company, valued at $2,092,974.24. This represents a 20.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 111,972 shares of company stock valued at $4,018,932. Corporate insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Openlane

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. bought a new position in shares of Openlane in the fourth quarter valued at approximately $348,271,000. Bank of Montreal Can acquired a new position in shares of Openlane during the fourth quarter valued at $220,158,000. Dimensional Fund Advisors LP bought a new stake in shares of Openlane during the fourth quarter worth approximately $200,309,000. Hawk Ridge Capital Management LP raised its stake in shares of 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. Finally, State Street Corp acquired a new stake in shares of Openlane during the fourth quarter worth $127,581,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

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.