Brokers Set Expectations for O’Reilly Automotive, Inc.’s Q1 2024 Earnings (NASDAQ:ORLY)

O’Reilly Automotive, Inc. (NASDAQ:ORLYFree Report) – Stock analysts at Wedbush decreased their Q1 2024 earnings per share (EPS) estimates for shares of O’Reilly Automotive in a note issued to investors on Thursday, February 8th. Wedbush analyst S. Basham now forecasts that the specialty retailer will post earnings per share of $9.35 for the quarter, down from their prior forecast of $9.37. Wedbush has a “Neutral” rating and a $1,100.00 price objective on the stock. The consensus estimate for O’Reilly Automotive’s current full-year earnings is $42.35 per share. Wedbush also issued estimates for O’Reilly Automotive’s Q2 2024 earnings at $11.41 EPS, Q3 2024 earnings at $12.04 EPS, Q4 2024 earnings at $9.70 EPS, FY2024 earnings at $42.50 EPS, FY2025 earnings at $46.71 EPS and FY2026 earnings at $51.19 EPS.

O’Reilly Automotive (NASDAQ:ORLYGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The specialty retailer reported $9.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.07 by $0.19. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.86 billion. O’Reilly Automotive had a negative return on equity of 140.43% and a net margin of 14.84%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the business posted $8.37 earnings per share.

Several other research firms have also weighed in on ORLY. Stephens reiterated an “overweight” rating and set a $1,060.00 price objective on shares of O’Reilly Automotive in a research note on Tuesday, December 19th. Barclays boosted their price objective on O’Reilly Automotive from $954.00 to $986.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 4th. TD Cowen raised their price target on O’Reilly Automotive from $1,100.00 to $1,150.00 and gave the company an “outperform” rating in a report on Friday, December 8th. JPMorgan Chase & Co. upped their price target on shares of O’Reilly Automotive from $980.00 to $1,030.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Finally, Wells Fargo & Company boosted their target price on O’Reilly Automotive from $1,125.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,039.27.

Read Our Latest Stock Analysis on ORLY

O’Reilly Automotive Stock Performance

Shares of NASDAQ:ORLY opened at $1,020.83 on Friday. The company’s fifty day moving average is $980.74 and its two-hundred day moving average is $953.95. O’Reilly Automotive has a 1-year low of $782.50 and a 1-year high of $1,074.04. The stock has a market capitalization of $60.39 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86.

Institutional Investors Weigh In On O’Reilly Automotive

A number of large investors have recently bought and sold shares of the business. Mirabella Financial Services LLP bought a new stake in shares of O’Reilly Automotive during the 2nd quarter worth about $1,973,000. National Bank of Canada FI grew its holdings in O’Reilly Automotive by 22.6% during the third quarter. National Bank of Canada FI now owns 42,044 shares of the specialty retailer’s stock valued at $37,751,000 after purchasing an additional 7,762 shares during the last quarter. Howland Capital Management LLC raised its position in shares of O’Reilly Automotive by 32.8% in the second quarter. Howland Capital Management LLC now owns 19,151 shares of the specialty retailer’s stock valued at $18,295,000 after purchasing an additional 4,726 shares during the period. Forsta AP Fonden lifted its stake in shares of O’Reilly Automotive by 10.8% in the second quarter. Forsta AP Fonden now owns 12,300 shares of the specialty retailer’s stock worth $11,750,000 after buying an additional 1,200 shares during the last quarter. Finally, Capital Fund Management S.A. boosted its holdings in shares of O’Reilly Automotive by 75.9% during the 2nd quarter. Capital Fund Management S.A. now owns 24,983 shares of the specialty retailer’s stock worth $23,866,000 after buying an additional 10,779 shares during the period. 82.92% of the stock is currently owned by institutional investors.

Insider Activity at O’Reilly Automotive

In other news, Director Dana Perlman sold 100 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $974.24, for a total value of $97,424.00. Following the transaction, the director now directly owns 1,197 shares of the company’s stock, valued at $1,166,165.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Dana Perlman sold 100 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $974.24, for a total value of $97,424.00. Following the completion of the sale, the director now owns 1,197 shares of the company’s stock, valued at approximately $1,166,165.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Christopher Andrew Mancini sold 1,500 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $1,000.00, for a total value of $1,500,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,600 shares of company stock valued at $6,582,124. Corporate insiders own 1.55% of the company’s stock.

O’Reilly Automotive Company Profile

(Get Free Report)

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 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.

See Also

Earnings History and Estimates for O'Reilly Automotive (NASDAQ:ORLY)

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