Wedbush Weighs in on O’Reilly Automotive, Inc.’s FY2023 Earnings (NASDAQ:ORLY)

O’Reilly Automotive, Inc. (NASDAQ:ORLYGet Rating) – Wedbush dropped their FY2023 earnings estimates for O’Reilly Automotive in a report released on Thursday, July 28th. Wedbush analyst S. Basham now anticipates that the specialty retailer will post earnings per share of $35.02 for the year, down from their prior estimate of $36.87. The consensus estimate for O’Reilly Automotive’s current full-year earnings is $32.64 per share. Wedbush also issued estimates for O’Reilly Automotive’s FY2024 earnings at $39.31 EPS.

O’Reilly Automotive (NASDAQ:ORLYGet Rating) last released its quarterly earnings data 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). The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.71 billion. O’Reilly Automotive had a negative return on equity of 2,699.29% and a net margin of 15.85%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.33 EPS.

Several other analysts have also issued reports on the stock. Truist Financial dropped their target price on shares of O’Reilly Automotive from $788.00 to $770.00 and set a “buy” rating on the stock in a research report on Monday, July 25th. MKM Partners lifted their target price on shares of O’Reilly Automotive from $700.00 to $770.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company dropped their target price on shares of 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. DA Davidson lifted their target price on shares of O’Reilly Automotive from $740.00 to $815.00 in a research report on Friday. Finally, Morgan Stanley dropped their target price on shares of O’Reilly Automotive from $650.00 to $635.00 and set an “equal weight” rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, O’Reilly Automotive currently has an average rating of “Moderate Buy” and a consensus target price of $742.50.

O’Reilly Automotive Stock Performance

ORLY stock opened at $703.59 on Monday. The firm 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 firm’s fifty day moving average is $641.35 and its 200 day moving average is $658.23. O’Reilly Automotive has a one year low of $562.90 and a one year high of $748.68.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in shares of O’Reilly Automotive by 9.3% during the 1st quarter. Parallel Advisors LLC now owns 550 shares of the specialty retailer’s stock worth $383,000 after buying an additional 47 shares during the last quarter. Veriti Management LLC lifted its position in shares of O’Reilly Automotive by 11.5% during the 1st quarter. Veriti Management LLC now owns 561 shares of the specialty retailer’s stock worth $384,000 after buying an additional 58 shares during the last quarter. Wesbanco Bank Inc. lifted its position in shares of O’Reilly Automotive by 50.7% during the 1st quarter. Wesbanco Bank Inc. now owns 841 shares of the specialty retailer’s stock worth $576,000 after buying an additional 283 shares during the last quarter. Forum Financial Management LP purchased a new stake in shares of O’Reilly Automotive during the 4th quarter worth approximately $520,000. Finally, Calamos Advisors LLC lifted its position in shares of O’Reilly Automotive by 4.0% during the 4th quarter. Calamos Advisors LLC now owns 26,403 shares of the specialty retailer’s stock worth $18,647,000 after buying an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 82.76% of the company’s stock.

Insider Activity

In other O’Reilly Automotive news, CFO Jeremy Adam Fletcher acquired 835 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was purchased at an average price of $600.00 per share, for a total transaction of $501,000.00. Following the completion of the acquisition, the chief financial officer now owns 1,897 shares of the company’s stock, valued at approximately $1,138,200. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other O’Reilly Automotive news, SVP Jeffrey Lynn Groves acquired 175 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was purchased at an average price of $572.77 per share, for a total transaction of $100,234.75. Following the completion of the acquisition, the senior vice president now owns 721 shares of the company’s stock, valued at approximately $412,967.17. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeremy Adam Fletcher acquired 835 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was acquired at an average price of $600.00 per share, with a total value of $501,000.00. Following the acquisition, the chief financial officer now directly owns 1,897 shares of the company’s stock, valued at approximately $1,138,200. The disclosure for this purchase can be found here. Insiders own 1.73% 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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Earnings History and Estimates for O'Reilly Automotive (NASDAQ:ORLY)

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