O’Reilly Automotive (NASDAQ:ORLY) Share Price Passes Above Two Hundred Day Moving Average on Disappointing Earnings

Shares of O’Reilly Automotive, Inc. (NASDAQ:ORLY) passed above its two hundred day moving average during trading on Wednesday after the company announced better than expected quarterly earnings. The stock has a two hundred day moving average of $1,273.64 and traded as high as $1,405.90. O’Reilly Automotive shares last traded at $1,380.50, with a volume of 597,000 shares.

The specialty retailer reported $9.35 earnings per share for the quarter, missing the consensus estimate of $9.84 by ($0.49). The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.18 billion. O’Reilly Automotive had a negative return on equity of 166.88% and a net margin of 14.28%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley upgraded O’Reilly Automotive from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $1,150.00 to $1,450.00 in a research note on Tuesday, January 21st. StockNews.com raised shares of O’Reilly Automotive from a “hold” rating to a “buy” rating in a report on Thursday, April 3rd. Wells Fargo & Company boosted their price target on O’Reilly Automotive from $1,425.00 to $1,550.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. BMO Capital Markets raised their price objective on O’Reilly Automotive from $1,400.00 to $1,450.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Finally, Barclays upped their target price on O’Reilly Automotive from $1,110.00 to $1,250.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $1,398.63.

Insider Buying and Selling at O’Reilly Automotive

In related news, EVP Jason Lee Tarrant sold 1,992 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $1,339.10, for a total value of $2,667,487.20. Following the completion of the transaction, the executive vice president now owns 1,398 shares in the company, valued at $1,872,061.80. This trade represents a 58.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark Joseph Merz sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $1,325.00, for a total transaction of $662,500.00. Following the sale, the senior vice president now directly owns 275 shares in the company, valued at $364,375. The trade was a 64.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,894 shares of company stock worth $10,409,618 over the last quarter. Corporate insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On O’Reilly Automotive

A number of hedge funds have recently modified their holdings of the business. Carolinas Wealth Consulting LLC lifted its position in shares of O’Reilly Automotive by 14.3% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 64 shares of the specialty retailer’s stock worth $76,000 after purchasing an additional 8 shares during the period. Marcum Wealth LLC raised its stake in O’Reilly Automotive by 4.0% during the first quarter. Marcum Wealth LLC now owns 210 shares of the specialty retailer’s stock worth $301,000 after buying an additional 8 shares during the last quarter. Adero Partners LLC lifted its holdings in O’Reilly Automotive by 1.9% in the first quarter. Adero Partners LLC now owns 425 shares of the specialty retailer’s stock valued at $609,000 after buying an additional 8 shares during the period. Avior Wealth Management LLC boosted its position in O’Reilly Automotive by 3.5% during the first quarter. Avior Wealth Management LLC now owns 239 shares of the specialty retailer’s stock valued at $342,000 after acquiring an additional 8 shares during the last quarter. Finally, Advisory Alpha LLC boosted its position in O’Reilly Automotive by 4.4% during the fourth quarter. Advisory Alpha LLC now owns 215 shares of the specialty retailer’s stock valued at $255,000 after acquiring an additional 9 shares during the last quarter. Institutional investors and hedge funds own 85.00% of the company’s stock.

O’Reilly Automotive Stock Performance

The stock has a market capitalization of $79.02 billion, a price-to-earnings ratio of 33.95, a P/E/G ratio of 2.34 and a beta of 0.79. The stock has a fifty day simple moving average of $1,357.27 and a two-hundred day simple moving average of $1,273.64.

Shares of O’Reilly Automotive are scheduled to split before the market opens on Tuesday, June 10th. The 15-1 split was announced on Thursday, March 13th. The newly issued shares will be distributed to shareholders after the closing bell on Monday, June 9th.

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.