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

O’Reilly Automotive, Inc. (NASDAQ:ORLYGet Rating) – Analysts at Wedbush cut their Q3 2022 earnings estimates for shares of O’Reilly Automotive in a research report issued on Thursday, July 28th. Wedbush analyst S. Basham now expects that the specialty retailer will earn $8.54 per share for the quarter, down from their previous estimate of $8.99. The consensus estimate for O’Reilly Automotive’s current full-year earnings is $32.64 per share. Wedbush also issued estimates for O’Reilly Automotive’s Q4 2022 earnings at $7.10 EPS, Q1 2023 earnings at $7.95 EPS, Q2 2023 earnings at $9.83 EPS, Q3 2023 earnings at $9.39 EPS and Q4 2023 earnings at $7.85 EPS.

Several other research firms have also recently issued reports on ORLY. Morgan Stanley lowered their target price on shares of O’Reilly Automotive from $650.00 to $635.00 and set an “equal weight” rating on the stock in a research note on Thursday. DA Davidson upped their target price on shares of O’Reilly Automotive from $740.00 to $815.00 in a research note on Friday. MKM Partners upped their target price on shares of O’Reilly Automotive from $700.00 to $770.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company lowered their target price on shares of O’Reilly Automotive from $800.00 to $750.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 8th. Finally, Citigroup restated a “maintains” rating on shares of O’Reilly Automotive in a research note on Friday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, O’Reilly Automotive presently has an average rating of “Moderate Buy” and a consensus price target of $738.46.

O’Reilly Automotive Stock Performance

Shares of ORLY stock opened at $703.59 on Friday. O’Reilly Automotive has a one year low of $562.90 and a one year high of $748.68. The company’s 50-day moving average is $641.35 and its 200 day moving average is $658.61. The company has a market capitalization of $46.24 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99.

O’Reilly Automotive (NASDAQ:ORLYGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The specialty retailer reported $8.78 EPS for the quarter, missing the consensus estimate of $8.98 by ($0.20). O’Reilly Automotive had a net margin of 15.85% and a negative return on equity of 2,699.29%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the company posted $8.33 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year.

Insiders Place Their Bets

In other news, SVP Jeffrey Lynn Groves bought 175 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were bought at an average price of $572.77 per share, for a total transaction of $100,234.75. Following the purchase, the senior vice president now owns 721 shares in the company, valued at $412,967.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Jeffrey Lynn Groves bought 175 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were bought at an average price of $572.77 per share, for a total transaction of $100,234.75. Following the purchase, the senior vice president now owns 721 shares in the company, valued at $412,967.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Adam Fletcher bought 835 shares of the firm’s stock in a transaction on Friday, May 20th. The shares were purchased at an average price of $600.00 per share, for a total transaction of $501,000.00. Following 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 owned by company insiders.

Institutional Investors Weigh In On O’Reilly Automotive

A number of institutional investors have recently added to or reduced their stakes in the stock. Amica Retiree Medical Trust grew its holdings in O’Reilly Automotive by 27.6% during the 2nd quarter. Amica Retiree Medical Trust now owns 711 shares of the specialty retailer’s stock valued at $449,000 after buying an additional 154 shares in the last quarter. Kingfisher Capital LLC grew its holdings in O’Reilly Automotive by 7.0% during the 2nd quarter. Kingfisher Capital LLC now owns 5,730 shares of the specialty retailer’s stock valued at $3,620,000 after buying an additional 377 shares in the last quarter. Mitchell Capital Management Co. purchased a new stake in O’Reilly Automotive during the 2nd quarter valued at approximately $1,970,000. Amica Mutual Insurance Co. grew its holdings in O’Reilly Automotive by 31.0% during the 2nd quarter. Amica Mutual Insurance Co. now owns 5,904 shares of the specialty retailer’s stock valued at $3,730,000 after buying an additional 1,396 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. purchased a new stake in O’Reilly Automotive during the 2nd quarter valued at approximately $208,000. 82.76% of the stock is owned by hedge funds and other institutional investors.

O’Reilly Automotive Company Profile

(Get Rating)

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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Earnings History and Estimates for O'Reilly Automotive (NASDAQ:ORLY)

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