Openlane (NYSE:OPLN) Trading 7.9% Higher After Earnings Beat

Shares of Openlane (NYSE:OPLN) rose 7.9% during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $34.44 and last traded at $34.6040. Approximately 295,957 shares were traded during trading, a decline of 66% from the average daily volume of 861,278 shares. The stock had previously closed at $32.06.

The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Openlane had a net margin of 9.19% and a return on equity of 12.74%. The firm had revenue of $527.90 million for the quarter. During the same period in the previous year, the firm posted $0.31 EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OPLN shares. JPMorgan Chase & Co. lifted their price target on shares of Openlane from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Northcoast Research raised shares of Openlane from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, March 30th. Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Weiss Ratings lowered shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Finally, Barclays upped their price target on Openlane from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Openlane has an average rating of “Moderate Buy” and an average target price of $33.50.

Insiders Place Their Bets

In other Openlane news, EVP James P. Coyle sold 88,444 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 63,869 shares of the company’s stock, valued at $1,841,343.27. This represents a 58.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Openlane

A number of large investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Openlane by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 516,406 shares of the company’s stock worth $15,053,000 after acquiring an additional 9,994 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Openlane by 2,495.1% during the 1st quarter. Fifth Third Bancorp now owns 35,163 shares of the company’s stock worth $1,025,000 after purchasing an additional 33,808 shares in the last quarter. Equitable Trust Co. raised its stake in shares of Openlane by 35.9% during the 1st quarter. Equitable Trust Co. now owns 17,220 shares of the company’s stock worth $502,000 after purchasing an additional 4,552 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Openlane during the 1st quarter worth approximately $2,477,000. Finally, SG Americas Securities LLC bought a new stake in shares of Openlane during the 1st quarter worth approximately $1,284,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Openlane Trading Up 8.8%

The company has a market cap of $3.70 billion, a P/E ratio of -29.32 and a beta of 1.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50 day moving average of $29.03.

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.