Zacks Research Analysts Cut Earnings Estimates for O’Reilly Automotive, Inc. (NASDAQ:ORLY)

O’Reilly Automotive, Inc. (NASDAQ:ORLY) – Research analysts at Zacks Research reduced their Q3 2024 earnings estimates for O’Reilly Automotive in a research note issued to investors on Wednesday, August 7th. Zacks Research analyst L. Shahu now forecasts that the specialty retailer will earn $11.47 per share for the quarter, down from their previous forecast of $11.55. The consensus estimate for O’Reilly Automotive’s current full-year earnings is $41.14 per share. Zacks Research also issued estimates for O’Reilly Automotive’s FY2024 earnings at $40.99 EPS and Q2 2025 earnings at $11.73 EPS.

O’Reilly Automotive (NASDAQ:ORLY) last released its quarterly earnings results on Wednesday, July 24th. The specialty retailer reported $10.55 earnings per share for the quarter, missing the consensus estimate of $10.98 by ($0.43). O’Reilly Automotive had a net margin of 14.57% and a negative return on equity of 146.57%. The company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter last year, the company earned $10.22 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year.

Other research analysts have also recently issued research reports about the stock. Truist Financial increased their target price on shares of O’Reilly Automotive from $1,143.00 to $1,204.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com cut shares of O’Reilly Automotive from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Wedbush reaffirmed a “neutral” rating and set a $1,100.00 price target on shares of O’Reilly Automotive in a research report on Thursday, July 25th. Evercore ISI dropped their price target on shares of O’Reilly Automotive from $1,250.00 to $1,225.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada dropped their price target on shares of O’Reilly Automotive from $1,124.00 to $1,115.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, O’Reilly Automotive has an average rating of “Moderate Buy” and a consensus target price of $1,130.67.

O’Reilly Automotive Trading Up 0.3 %

Shares of ORLY opened at $1,124.41 on Friday. O’Reilly Automotive has a 12 month low of $860.10 and a 12 month high of $1,169.11. The firm has a fifty day simple moving average of $1,050.41 and a 200 day simple moving average of $1,056.42. The stock has a market capitalization of $66.22 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 2.15 and a beta of 0.92.

Hedge Funds Weigh In On O’Reilly Automotive

Institutional investors and hedge funds have recently modified their holdings of the business. Nordea Investment Management AB grew its stake in shares of O’Reilly Automotive by 3.8% in the first quarter. Nordea Investment Management AB now owns 60,057 shares of the specialty retailer’s stock valued at $68,327,000 after acquiring an additional 2,214 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in O’Reilly Automotive by 5.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,814 shares of the specialty retailer’s stock worth $16,723,000 after buying an additional 701 shares in the last quarter. Perpetual Ltd grew its stake in O’Reilly Automotive by 322.6% during the first quarter. Perpetual Ltd now owns 1,141 shares of the specialty retailer’s stock worth $1,289,000 after buying an additional 871 shares in the last quarter. Wellington Management Group LLP grew its stake in O’Reilly Automotive by 656.2% during the fourth quarter. Wellington Management Group LLP now owns 457,625 shares of the specialty retailer’s stock worth $434,780,000 after buying an additional 397,108 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in O’Reilly Automotive by 7.4% during the fourth quarter. Stifel Financial Corp now owns 36,728 shares of the specialty retailer’s stock worth $34,894,000 after buying an additional 2,535 shares in the last quarter. 85.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Gregory L. Henslee sold 18,264 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $1,127.55, for a total value of $20,593,573.20. Following the transaction, the chairman now directly owns 13,347 shares of the company’s stock, valued at $15,049,409.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Dana Perlman sold 48 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $1,109.76, for a total value of $53,268.48. Following the transaction, the director now directly owns 1,097 shares in the company, valued at $1,217,406.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gregory L. Henslee sold 18,264 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $1,127.55, for a total transaction of $20,593,573.20. Following the completion of the transaction, the chairman now owns 13,347 shares in the company, valued at $15,049,409.85. The disclosure for this sale can be found here. Insiders have sold 35,589 shares of company stock valued at $39,989,614 over the last ninety days. 1.55% of the stock is currently owned by company insiders.

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.