O’Reilly Automotive (NASDAQ:ORLY) Posts Quarterly Earnings Results, Misses Expectations By $0.12 EPS

O’Reilly Automotive (NASDAQ:ORLY) posted its quarterly earnings results on Wednesday. The specialty retailer reported $11.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.53 by ($0.12), Briefing.com reports. The business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.42 billion. O’Reilly Automotive had a negative return on equity of 146.57% and a net margin of 14.57%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company earned $10.72 EPS. O’Reilly Automotive updated its FY24 guidance to $40.60 to $41.10 EPS and its FY 2024 guidance to 40.600-41.100 EPS.

O’Reilly Automotive Stock Up 0.0 %

Shares of ORLY opened at $1,199.77 on Friday. The firm has a market capitalization of $69.60 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92. O’Reilly Automotive has a 12-month low of $860.10 and a 12-month high of $1,221.18. The stock’s fifty day simple moving average is $1,147.32 and its 200-day simple moving average is $1,080.64.

Insiders Place Their Bets

In other news, Director Dana Perlman sold 48 shares of the firm’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 owns 1,097 shares of the company’s stock, valued at approximately $1,217,406.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Gregory L. Henslee sold 18,264 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $1,127.55, for a total value of $20,593,573.20. Following the completion of the sale, the chairman now owns 13,347 shares in the company, valued at approximately $15,049,409.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dana Perlman sold 48 shares of the 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 completion of the transaction, the director now directly owns 1,097 shares in the company, valued at $1,217,406.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,411 shares of company stock valued at $56,846,062. 1.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on ORLY. UBS Group cut 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 research report on Thursday, July 18th. Bank of America lifted their price objective on O’Reilly Automotive from $1,204.00 to $1,290.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Evercore ISI boosted their target price on shares of O’Reilly Automotive from $1,215.00 to $1,230.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Roth Capital upgraded shares of O’Reilly Automotive to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, DA Davidson restated a “buy” rating and issued a $1,275.00 price target on shares of O’Reilly Automotive in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,209.56.

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.