O’Reilly Automotive’s (ORLY) Buy Rating Reaffirmed at DA Davidson

DA Davidson reiterated their buy rating on shares of O’Reilly Automotive (NASDAQ:ORLY) in a research note released on Thursday, Benzinga reports. The brokerage currently has a $1,275.00 target price on the specialty retailer’s stock. DA Davidson also issued estimates for O’Reilly Automotive’s Q3 2024 earnings at $11.59 EPS, FY2024 earnings at $40.97 EPS and FY2025 earnings at $45.78 EPS.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada dropped their price target on O’Reilly Automotive from $1,124.00 to $1,115.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Wells Fargo & Company raised their target price on shares of O’Reilly Automotive from $1,250.00 to $1,325.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Bank of America upped their price target on shares of O’Reilly Automotive from $1,204.00 to $1,290.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI increased their price target on shares of O’Reilly Automotive from $1,215.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, Roth Capital upgraded shares of O’Reilly Automotive to a “strong-buy” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, O’Reilly Automotive presently has a consensus rating of “Moderate Buy” and an average price target of $1,209.56.

O’Reilly Automotive Price Performance

Shares of NASDAQ:ORLY traded up $4.65 during trading on Thursday, hitting $1,204.42. 13,735 shares of the company were exchanged, compared to its average volume of 373,211. The firm’s 50 day moving average price is $1,147.32 and its 200-day moving average price is $1,080.64. O’Reilly Automotive has a 12-month low of $895.88 and a 12-month high of $1,221.18. The stock has a market capitalization of $69.87 billion, a P/E ratio of 30.20, a PEG ratio of 2.29 and a beta of 0.92.

O’Reilly Automotive (NASDAQ:ORLY) last announced its quarterly earnings results on Wednesday, October 23rd. The specialty retailer reported $11.41 earnings per share for the quarter, missing analysts’ consensus estimates of $11.53 by ($0.12). The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.42 billion. O’Reilly Automotive had a net margin of 14.57% and a negative return on equity of 146.57%. O’Reilly Automotive’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $10.72 earnings per share. As a group, equities research analysts anticipate that O’Reilly Automotive will post 41.05 EPS for the current year.

Insider Activity

In related news, SVP Mark Joseph Merz sold 413 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $1,120.00, for a total transaction of $462,560.00. Following the transaction, the senior vice president now owns 265 shares of the company’s stock, valued at $296,800. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Mark Joseph Merz sold 413 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $1,120.00, for a total transaction of $462,560.00. Following the sale, the senior vice president now owns 265 shares of the company’s stock, valued at approximately $296,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory D. Johnson sold 15,364 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $1,136.16, for a total transaction of $17,455,962.24. Following the completion of the transaction, the director now directly owns 5,016 shares of the company’s stock, valued at approximately $5,698,978.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,411 shares of company stock valued at $56,846,062 in the last three months. 1.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ORLY. Vanguard Group Inc. increased its holdings in O’Reilly Automotive by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 5,084,209 shares of the specialty retailer’s stock valued at $5,739,462,000 after acquiring an additional 75,837 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of O’Reilly Automotive by 3.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,850,655 shares of the specialty retailer’s stock worth $1,954,404,000 after purchasing an additional 57,194 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in O’Reilly Automotive by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,425,724 shares of the specialty retailer’s stock valued at $1,505,649,000 after buying an additional 19,211 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in O’Reilly Automotive by 56.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,045,512 shares of the specialty retailer’s stock valued at $1,180,259,000 after buying an additional 376,167 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in O’Reilly Automotive by 99,957.0% during the third quarter. International Assets Investment Management LLC now owns 854,487 shares of the specialty retailer’s stock worth $984,027,000 after buying an additional 853,633 shares in the last quarter. Hedge funds and other institutional investors own 85.00% of the company’s stock.

About O’Reilly Automotive

O’Reilly Automotive, Inc, together with its subsidiaries, operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, Puerto Rico, and Mexico. The company provides new and remanufactured automotive hard parts and maintenance items, such as alternators, batteries, brake system components, belts, chassis parts, driveline parts, engine parts, fuel pumps, hoses, starters, temperature control, water pumps, antifreeze, appearance products, engine additives, filters, fluids, lighting products, and oil and wiper blades; and accessories, including floor mats, seat covers, and truck accessories.