DA Davidson Boosts O’Reilly Automotive (NASDAQ:ORLY) Price Target to $815.00

O’Reilly Automotive (NASDAQ:ORLYGet Rating) had its target price upped by research analysts at DA Davidson from $740.00 to $815.00 in a research report issued on Friday, The Fly reports. DA Davidson’s target price would suggest a potential upside of 15.83% from the stock’s previous close. DA Davidson also issued estimates for O’Reilly Automotive’s Q3 2022 earnings at $8.30 EPS.

A number of other research firms have also recently weighed in on ORLY. Morgan Stanley cut their price target on O’Reilly Automotive from $650.00 to $635.00 and set an “equal weight” rating on the stock in a research note on Thursday. Citigroup reiterated a “maintains” rating on shares of O’Reilly Automotive in a research report on Friday. StockNews.com began coverage on O’Reilly Automotive in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Wells Fargo & Company cut their target price on O’Reilly Automotive from $800.00 to $750.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 8th. Finally, Bank of America upgraded O’Reilly Automotive from a “neutral” rating to a “buy” rating and set a $730.00 target price on the stock in a research report on Tuesday, May 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, O’Reilly Automotive presently has an average rating of “Moderate Buy” and a consensus price target of $742.50.

O’Reilly Automotive Price Performance

O’Reilly Automotive stock opened at $703.59 on Friday. 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 PE ratio of 22.54, a P/E/G ratio of 1.66 and a beta of 0.99. The stock’s fifty day moving average is $641.35 and its two-hundred day moving average is $658.44.

O’Reilly Automotive (NASDAQ:ORLYGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The specialty retailer reported $8.78 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business earned $8.33 earnings per share. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. On average, research analysts expect that O’Reilly Automotive will post 32.64 earnings per share for the current fiscal year.

Insider Activity at O’Reilly Automotive

In related news, CFO Jeremy Adam Fletcher purchased 835 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 1,897 shares of the company’s stock, valued at approximately $1,138,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Jeremy Adam Fletcher purchased 835 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 1,897 shares of the company’s stock, valued at approximately $1,138,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jeffrey Lynn Groves purchased 175 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was bought at an average price of $572.77 per share, for a total transaction of $100,234.75. Following the transaction, the senior vice president now directly owns 721 shares in the company, valued at $412,967.17. The disclosure for this purchase can be found here. 1.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On O’Reilly Automotive

A number of institutional investors have recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton boosted its holdings in O’Reilly Automotive by 14.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 121 shares of the specialty retailer’s stock valued at $77,000 after purchasing an additional 15 shares in the last quarter. WoodTrust Financial Corp boosted its holdings in O’Reilly Automotive by 1.0% in the 2nd quarter. WoodTrust Financial Corp now owns 1,561 shares of the specialty retailer’s stock valued at $987,000 after purchasing an additional 16 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in O’Reilly Automotive by 24.2% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 82 shares of the specialty retailer’s stock valued at $52,000 after purchasing an additional 16 shares in the last quarter. Clarius Group LLC boosted its holdings in O’Reilly Automotive by 1.8% in the 4th quarter. Clarius Group LLC now owns 969 shares of the specialty retailer’s stock valued at $684,000 after purchasing an additional 17 shares in the last quarter. Finally, Red Door Wealth Management LLC boosted its holdings in O’Reilly Automotive by 2.7% in the 1st quarter. Red Door Wealth Management LLC now owns 646 shares of the specialty retailer’s stock valued at $442,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 82.76% of the company’s stock.

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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