O’Reilly Automotive (NASDAQ:ORLY) Releases Earnings Results

O’Reilly Automotive (NASDAQ:ORLY) posted its earnings results on Wednesday. The specialty retailer reported $10.55 EPS for the quarter, missing analysts’ consensus estimates of $10.98 by ($0.43), Briefing.com reports. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.32 billion. O’Reilly Automotive had a negative return on equity of 145.52% and a net margin of 14.57%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $10.22 EPS. O’Reilly Automotive updated its FY24 guidance to $40.75-$41.25 EPS and its FY 2024 guidance to 40.750-41.250 EPS.

O’Reilly Automotive Trading Up 1.6 %

NASDAQ ORLY traded up $17.40 on Friday, hitting $1,110.31. 549,923 shares of the company traded hands, compared to its average volume of 398,681. The company has a market capitalization of $65.39 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 1.94 and a beta of 0.92. The business’s 50 day moving average price is $1,019.39 and its 200-day moving average price is $1,044.87. O’Reilly Automotive has a 52-week low of $860.10 and a 52-week high of $1,169.11.

Insider Activity

In other news, CEO Brad W. Beckham sold 6,032 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $1,015.00, for a total value of $6,122,480.00. Following the transaction, the chief executive officer now directly owns 716 shares in the company, valued at $726,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Brad W. Beckham sold 6,032 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $1,015.00, for a total value of $6,122,480.00. Following the transaction, the chief executive officer now directly owns 716 shares in the company, valued at $726,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence P. Oreilly sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $949.50, for a total value of $1,424,250.00. Following the completion of the transaction, the director now owns 31,613 shares in the company, valued at $30,016,543.50. The disclosure for this sale can be found here. Company insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ORLY shares. Evercore ISI reduced their target price on O’Reilly Automotive from $1,250.00 to $1,225.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. UBS Group reduced their target price on O’Reilly Automotive from $1,275.00 to $1,250.00 and set a “buy” rating for the company in a report on Thursday, July 18th. DA Davidson lifted their target price on O’Reilly Automotive from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial lifted their price objective on O’Reilly Automotive from $1,143.00 to $1,204.00 and gave the stock a “buy” rating in a report on Friday. Finally, Royal Bank of Canada cut their price objective on O’Reilly Automotive from $1,124.00 to $1,115.00 and set an “outperform” rating for the company in a report on Friday. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, O’Reilly Automotive currently has an average rating of “Moderate Buy” and a consensus target price of $1,130.67.

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.