O’Reilly Automotive (NASDAQ:ORLY) Announces Quarterly Earnings Results

O’Reilly Automotive (NASDAQ:ORLY) issued its quarterly earnings results on Wednesday. The specialty retailer reported $11.41 EPS for the quarter, missing the consensus estimate of $11.53 by ($0.12), Briefing.com reports. O’Reilly Automotive had a negative return on equity of 146.57% and a net margin of 14.57%. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the firm posted $10.72 earnings per share. O’Reilly Automotive’s revenue was up 3.8% compared to the same quarter last year. 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 Performance

Shares of NASDAQ ORLY traded down $0.53 during trading hours on Thursday, hitting $1,198.72. The stock had a trading volume of 135,484 shares, compared to its average volume of 373,524. The company has a market capitalization of $70.60 billion, a P/E ratio of 30.62, a P/E/G ratio of 2.30 and a beta of 0.92. The firm’s 50-day moving average price is $1,147.32 and its two-hundred day moving average price is $1,080.64. O’Reilly Automotive has a 52 week low of $860.10 and a 52 week high of $1,221.18.

Analysts Set New Price Targets

ORLY has been the topic of several research reports. UBS Group dropped their price target on shares of O’Reilly Automotive from $1,275.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Wedbush reissued a “neutral” rating and issued a $1,200.00 price target on shares of O’Reilly Automotive in a research note on Thursday. Roth Capital raised O’Reilly Automotive to a “strong-buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price target on O’Reilly Automotive from $1,125.00 to $1,300.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, 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. Three 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,213.53.

Insider Activity at O’Reilly Automotive

In related news, SVP Christopher Andrew Mancini sold 1,557 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $1,125.00, for a total value of $1,751,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Christopher Andrew Mancini sold 1,557 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $1,125.00, for a total value of $1,751,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory D. Johnson sold 15,364 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $1,136.16, for a total value of $17,455,962.24. Following the completion of the sale, the director now 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. In the last quarter, insiders sold 50,411 shares of company stock valued at $56,846,062. 1.55% of the stock is owned by corporate 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.