Citigroup Increases O’Reilly Automotive (NASDAQ:ORLY) Price Target to $720.00

O’Reilly Automotive (NASDAQ:ORLYGet Rating) had its price objective increased by Citigroup from $662.00 to $720.00 in a report released on Thursday, The Fly reports. Citigroup’s price target would suggest a potential upside of 2.33% from the company’s current price.

Several other research firms have also recently issued reports on ORLY. StockNews.com began coverage on O’Reilly Automotive in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Morgan Stanley decreased their target price on O’Reilly Automotive from $650.00 to $635.00 and set an “equal weight” rating for the company in a research note on Thursday. Bank of America raised O’Reilly Automotive from a “neutral” rating to a “buy” rating and set a $730.00 target price for the company in a research note on Tuesday, May 10th. DA Davidson raised O’Reilly Automotive from a “neutral” rating to a “buy” rating and raised their target price for the company from $700.00 to $740.00 in a research note on Wednesday, June 29th. Finally, Truist Financial decreased their target price on O’Reilly Automotive from $788.00 to $770.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, O’Reilly Automotive presently has an average rating of “Moderate Buy” and a consensus target price of $738.46.

O’Reilly Automotive Stock Performance

NASDAQ:ORLY opened at $703.59 on Thursday. O’Reilly Automotive has a 1 year low of $562.90 and a 1 year high of $748.68. The stock has a market cap of $46.24 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.66 and a beta of 0.99. The business has a fifty day moving average of $641.35 and a 200-day moving average of $658.61.

O’Reilly Automotive (NASDAQ:ORLYGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The specialty retailer reported $8.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.98 by ($0.20). O’Reilly Automotive had a negative return on equity of 2,699.29% and a net margin of 15.85%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the company posted $8.33 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts predict that O’Reilly Automotive will post 32.64 EPS for the current year.

Insider Activity

In related news, CFO Jeremy Adam Fletcher bought 835 shares of O’Reilly Automotive stock in a transaction dated Friday, May 20th. The stock was acquired at an average cost of $600.00 per share, with a total value of $501,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,897 shares in the company, valued at approximately $1,138,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other O’Reilly Automotive news, SVP Jeffrey Lynn Groves acquired 175 shares of O’Reilly Automotive stock in a transaction that occurred on Monday, May 23rd. The stock was purchased at an average cost of $572.77 per share, with a total value of $100,234.75. Following the purchase, the senior vice president now owns 721 shares in the company, valued at $412,967.17. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeremy Adam Fletcher acquired 835 shares of O’Reilly Automotive stock in a transaction that occurred on Friday, May 20th. The stock was acquired at an average cost of $600.00 per share, with a total value of $501,000.00. Following the completion of the purchase, the chief financial officer now owns 1,897 shares in the company, valued at approximately $1,138,200. The disclosure for this purchase can be found here. 1.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On O’Reilly Automotive

Several hedge funds have recently bought and sold shares of the business. Lloyd Advisory Services LLC. acquired a new position in O’Reilly Automotive in the 1st quarter worth about $26,000. Riverview Trust Co acquired a new position in O’Reilly Automotive in the 1st quarter worth about $27,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in O’Reilly Automotive in the 4th quarter worth about $28,000. Atlas Capital Advisors LLC acquired a new position in O’Reilly Automotive in the 4th quarter worth about $30,000. Finally, Heritage Financial Services LLC acquired a new position in O’Reilly Automotive in the 2nd quarter worth about $34,000. 82.76% of the stock is owned by hedge funds and other institutional investors.

About O’Reilly Automotive

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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. 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.

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