Openlane (NYSE:OPLN) Sets New 52-Week High – Should You Buy?

Shares of Openlane (NYSE:OPLN) reached a new 52-week high on Wednesday . The company traded as high as $39.26 and last traded at $38.4980, with a volume of 563983 shares trading hands. The stock had previously closed at $38.59.

Analyst Ratings Changes

Several research firms recently issued reports on OPLN. Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Northcoast Research set a $40.00 price target on shares of Openlane in a research report on Wednesday, May 6th. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of Openlane in a research note on Thursday, June 11th. Finally, Robert W. Baird set a $40.00 price objective on shares of Openlane in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Openlane presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Openlane Stock Up 2.3%

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50 day moving average price of $34.78. The firm has a market capitalization of $4.03 billion, a PE ratio of -37.32, a P/E/G ratio of 1.91 and a beta of 1.27.

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

Insider Activity at Openlane

In other news, insider William Clyde Mitchell sold 6,500 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total value of $234,260.00. Following the transaction, the insider owned 15,914 shares of the company’s stock, valued at approximately $573,540.56. The trade was a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tobin P. Richer sold 4,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $38.31, for a total transaction of $153,240.00. Following the transaction, the executive vice president owned 24,697 shares of the company’s stock, valued at approximately $946,142.07. This represents a 13.94% decrease in their position. The SEC filing for this sale provides additional information. 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 Trading of Openlane

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