O’Reilly Automotive (NASDAQ:ORLY) Shares Gap Down After Analyst Downgrade

O’Reilly Automotive, Inc. (NASDAQ:ORLY)’s share price gapped down before the market opened on Thursday after Wells Fargo & Company lowered their price target on the stock from $1,300.00 to $1,200.00. The stock had previously closed at $1,092.70, but opened at $1,020.00. Wells Fargo & Company currently has an overweight rating on the stock. O’Reilly Automotive shares last traded at $1,022.58, with a volume of 213,046 shares.

Several other equities research analysts have also weighed in on the stock. Barclays increased their price objective on shares of O’Reilly Automotive from $954.00 to $986.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 4th. Truist Financial upped their target price on shares of O’Reilly Automotive from $1,149.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada upped their target price on shares of O’Reilly Automotive from $1,003.00 to $1,078.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Wedbush restated a “neutral” rating and issued a $1,100.00 target price on shares of O’Reilly Automotive in a research report on Thursday. Finally, The Goldman Sachs Group upped their target price on shares of O’Reilly Automotive from $1,022.00 to $1,170.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,108.94.

Insider Activity at O’Reilly Automotive

In related news, EVP Doug D. Bragg sold 1,218 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $1,063.54, for a total transaction of $1,295,391.72. Following the completion of the sale, the executive vice president now directly owns 5,533 shares of the company’s stock, valued at $5,884,566.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Doug D. Bragg sold 1,218 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $1,063.54, for a total transaction of $1,295,391.72. Following the completion of the sale, the executive vice president now directly owns 5,533 shares of the company’s stock, valued at $5,884,566.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jeremy Adam Fletcher sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $1,028.00, for a total transaction of $5,140,000.00. Following the sale, the chief financial officer now directly owns 2,335 shares of the company’s stock, valued at $2,400,380. The disclosure for this sale can be found here. Insiders sold a total of 25,968 shares of company stock valued at $27,269,333 over the last ninety days. Insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On O’Reilly Automotive

Hedge funds have recently made changes to their positions in the company. Fortune Financial Advisors LLC lifted its position in shares of O’Reilly Automotive by 2.4% in the 4th quarter. Fortune Financial Advisors LLC now owns 2,447 shares of the specialty retailer’s stock valued at $2,325,000 after acquiring an additional 57 shares in the last quarter. SignalPoint Asset Management LLC lifted its position in shares of O’Reilly Automotive by 3.3% in the 4th quarter. SignalPoint Asset Management LLC now owns 51,120 shares of the specialty retailer’s stock valued at $48,567,000 after acquiring an additional 1,642 shares in the last quarter. NewEdge Wealth LLC lifted its position in shares of O’Reilly Automotive by 13.6% in the 4th quarter. NewEdge Wealth LLC now owns 34,217 shares of the specialty retailer’s stock valued at $32,509,000 after acquiring an additional 4,101 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of O’Reilly Automotive by 7.0% in the 4th quarter. HB Wealth Management LLC now owns 1,747 shares of the specialty retailer’s stock valued at $1,660,000 after acquiring an additional 114 shares in the last quarter. Finally, LPL Financial LLC lifted its position in O’Reilly Automotive by 10.8% in the 3rd quarter. LPL Financial LLC now owns 34,746 shares of the specialty retailer’s stock worth $31,579,000 after buying an additional 3,385 shares in the last quarter. Hedge funds and other institutional investors own 85.00% of the company’s stock.

O’Reilly Automotive Trading Down 3.5 %

The company has a market cap of $62.23 billion, a PE ratio of 27.39, a P/E/G ratio of 1.98 and a beta of 0.86. The business’s 50-day simple moving average is $1,097.34 and its 200-day simple moving average is $1,014.62.

O’Reilly Automotive (NASDAQ:ORLY) last released its earnings results on Thursday, April 25th. The specialty retailer reported $9.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.18 by $0.02. O’Reilly Automotive had a net margin of 14.84% and a negative return on equity of 139.01%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the firm earned $8.28 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, research analysts predict that O’Reilly Automotive, Inc. will post 42.1 earnings per share for the current fiscal year.

O’Reilly Automotive Company Profile

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.