O’Reilly Automotive (ORLY) Upgraded by Zacks Investment Research to “Buy”

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Zacks Investment Research upgraded shares of O’Reilly Automotive (NASDAQ:ORLY) from a hold rating to a buy rating in a research note released on Thursday. The brokerage currently has $381.00 price target on the specialty retailer’s stock.

According to Zacks, “O’Reilly’s benefits from its store expansions in new as well as existing markets. During the first nine months, ending on Sep 30, 2018, the company opened 171 stores, totaling to a store count of 5,190. Also, offering products to both Do-it-Yourself customers and Do-it-for-Me or professional installers aid O’Reilly in attracting a large number of customers across all markets. It also follows an aggressive share-repurchase policy to reward shareholders. Over the past six months, shares of the company have outperformed the industry it belongs to. However, dependence on weather cycles for the sale of products and O’Reilly’s logistical disadvantage against competitors are concerns.”

Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of O’Reilly Automotive from a strong-buy rating to a buy rating in a research report on Saturday, September 15th. Jefferies Financial Group upped their price objective on shares of O’Reilly Automotive from $350.00 to $375.00 and gave the stock a buy rating in a research report on Friday, October 26th. Wells Fargo & Co reiterated a buy rating and issued a $345.00 price objective on shares of O’Reilly Automotive in a research report on Wednesday, October 24th. Morgan Stanley upped their price objective on shares of O’Reilly Automotive from $310.00 to $345.00 and gave the stock an equal weight rating in a research report on Thursday, October 11th. Finally, Credit Suisse Group set a $318.00 price objective on shares of O’Reilly Automotive and gave the stock a hold rating in a research report on Thursday, October 25th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. O’Reilly Automotive has an average rating of Buy and a consensus price target of $350.25.

Shares of O’Reilly Automotive stock opened at $330.57 on Thursday. The stock has a market capitalization of $26.65 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 1.32 and a beta of 1.10. O’Reilly Automotive has a fifty-two week low of $217.64 and a fifty-two week high of $363.20. The company has a debt-to-equity ratio of 6.37, a current ratio of 0.91 and a quick ratio of 0.11.

O’Reilly Automotive (NASDAQ:ORLY) last issued its quarterly earnings data on Wednesday, October 24th. The specialty retailer reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.31 by $0.19. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.49 billion. O’Reilly Automotive had a net margin of 14.09% and a return on equity of 259.86%. On average, sell-side analysts predict that O’Reilly Automotive will post 16.1 earnings per share for the current year.

O’Reilly Automotive declared that its board has authorized a stock repurchase program on Tuesday, November 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In related news, SVP Jeffrey Alan Lauro sold 12,526 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $351.06, for a total transaction of $4,397,377.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.07% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ORLY. Centaurus Financial Inc. acquired a new position in shares of O’Reilly Automotive during the 2nd quarter worth about $112,000. San Francisco Sentry Investment Group CA acquired a new position in shares of O’Reilly Automotive during the 3rd quarter worth about $119,000. Honkamp Krueger Financial Services Inc. acquired a new position in shares of O’Reilly Automotive during the 3rd quarter worth about $129,000. Capital Bank & Trust Co raised its position in shares of O’Reilly Automotive by 159.4% during the 3rd quarter. Capital Bank & Trust Co now owns 371 shares of the specialty retailer’s stock worth $129,000 after purchasing an additional 228 shares during the last quarter. Finally, Capital Guardian Trust Co. acquired a new position in shares of O’Reilly Automotive during the 3rd quarter worth about $167,000. Hedge funds and other institutional investors own 85.01% of the company’s stock.

O’Reilly Automotive Company Profile

O'Reilly Automotive, Inc, together with its subsidiaries, engages in the retail of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States. The company provides new and remanufactured automotive hard parts, such as alternators, starters, fuel pumps, water pumps, brake system components, batteries, belts, hoses, temperature controls, chassis parts, driveline parts, and engine parts; maintenance items comprising oil, antifreeze products, fluids, filters, wiper blades, lighting products, engine additives, and appearance products; and accessories, such as floor mats, seat covers, and truck accessories.

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