DA Davidson Comments on O’Reilly Automotive, Inc.’s Q2 2024 Earnings (NASDAQ:ORLY)

O’Reilly Automotive, Inc. (NASDAQ:ORLY) – Analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of O’Reilly Automotive in a research report issued to clients and investors on Friday, April 26th. DA Davidson analyst M. Baker anticipates that the specialty retailer will post earnings of $11.19 per share for the quarter. The consensus estimate for O’Reilly Automotive’s current full-year earnings is $41.79 per share. DA Davidson also issued estimates for O’Reilly Automotive’s FY2025 earnings at $47.44 EPS.

A number of other research firms have also commented on ORLY. Truist Financial dropped their price objective on shares of O’Reilly Automotive from $1,234.00 to $1,212.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. The Goldman Sachs Group raised their target price on shares of O’Reilly Automotive from $1,022.00 to $1,170.00 and gave the company a “buy” rating in a report on Friday, February 9th. Evercore ISI reduced their price objective on O’Reilly Automotive from $1,220.00 to $1,200.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. UBS Group raised their target price on shares of O’Reilly Automotive from $1,125.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Mizuho began coverage on shares of O’Reilly Automotive in a research note on Tuesday, March 19th. They set a “buy” rating and a $1,225.00 price objective for the company. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,110.07.

O’Reilly Automotive Stock Down 2.3 %

ORLY opened at $1,013.26 on Monday. The firm has a market cap of $59.81 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 1.91 and a beta of 0.86. The business’s 50 day moving average is $1,096.47 and its two-hundred day moving average is $1,018.34. O’Reilly Automotive has a 52 week low of $860.10 and a 52 week high of $1,169.11.

O’Reilly Automotive (NASDAQ:ORLY) last posted its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $9.20 EPS for the quarter, topping the consensus estimate of $9.18 by $0.02. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.99 billion. O’Reilly Automotive had a net margin of 14.78% and a negative return on equity of 145.86%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.28 EPS.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of O’Reilly Automotive by 4.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,793,461 shares of the specialty retailer’s stock worth $2,024,604,000 after purchasing an additional 76,517 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of O’Reilly Automotive by 15.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,406,513 shares of the specialty retailer’s stock valued at $1,587,784,000 after acquiring an additional 183,296 shares during the last quarter. Jennison Associates LLC grew its holdings in O’Reilly Automotive by 7.6% during the fourth quarter. Jennison Associates LLC now owns 947,484 shares of the specialty retailer’s stock valued at $900,186,000 after purchasing an additional 66,629 shares during the last quarter. Invesco Ltd. raised its holdings in O’Reilly Automotive by 3.7% in the 3rd quarter. Invesco Ltd. now owns 888,110 shares of the specialty retailer’s stock worth $807,168,000 after acquiring an additional 31,487 shares during the period. Finally, Norges Bank bought a new position in shares of O’Reilly Automotive in the fourth quarter worth about $671,384,000. Institutional investors and hedge funds own 85.00% of the company’s stock.

Insider Buying and Selling

In other O’Reilly Automotive news, Chairman David E. Oreilly sold 6,444 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $1,062.60, for a total value of $6,847,394.40. Following the completion of the sale, the chairman now owns 205,095 shares of the company’s stock, valued at $217,933,947. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Jeremy Adam Fletcher sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 2,335 shares of the company’s stock, valued at approximately $2,400,380. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman David E. Oreilly sold 6,444 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $1,062.60, for a total value of $6,847,394.40. Following the transaction, the chairman now owns 205,095 shares of the company’s stock, valued at approximately $217,933,947. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,968 shares of company stock valued at $27,269,333. Corporate insiders own 1.18% of the company’s stock.

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.