O'Reilly Automotive (ORLY) Upgraded to “Outperform” by Royal Bank of Canada

Royal Bank of Canada upgraded shares of O'Reilly Automotive (NASDAQ:ORLY) from a sector perform rating to an outperform rating in a research report report published on Wednesday.

Several other analysts also recently weighed in on ORLY. Moffett Nathanson assumed coverage on O'Reilly Automotive in a research report on Monday, December 4th. They issued a buy rating for the company. Robert W. Baird reiterated a hold rating and issued a $220.00 price objective on shares of O'Reilly Automotive in a research report on Friday, October 27th. Oppenheimer set a $220.00 price objective on O'Reilly Automotive and gave the company a buy rating in a research report on Thursday, October 26th. UBS reissued a buy rating and set a $240.00 target price (up from $230.00) on shares of O'Reilly Automotive in a research note on Thursday, October 19th. Finally, Credit Suisse Group set a $193.00 target price on O'Reilly Automotive and gave the company a hold rating in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. O'Reilly Automotive presently has an average rating of Buy and an average price target of $243.48.

O'Reilly Automotive (NASDAQ:ORLY) traded down $0.94 during trading hours on Wednesday, reaching $245.92. The company had a trading volume of 1,223,000 shares, compared to its average volume of 1,302,792. The company has a market cap of $20,989.94, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 1.45 and a beta of 0.84. O'Reilly Automotive has a one year low of $169.43 and a one year high of $286.57. The company has a quick ratio of 0.10, a current ratio of 0.93 and a debt-to-equity ratio of 4.72.

O'Reilly Automotive (NASDAQ:ORLY) last announced its quarterly earnings data on Wednesday, October 25th. The specialty retailer reported $3.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.15 by $0.07. O'Reilly Automotive had a return on equity of 93.18% and a net margin of 12.13%. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the company posted $2.90 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. research analysts anticipate that O'Reilly Automotive will post 11.91 EPS for the current fiscal year.

O'Reilly Automotive announced that its board has approved a share repurchase program on Friday, September 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, SVP Scott E. Kraus sold 8,500 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $237.84, for a total transaction of $2,021,640.00. Following the transaction, the senior vice president now directly owns 4,959 shares of the company’s stock, valued at $1,179,448.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Randy Johnson sold 1,040 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $235.00, for a total value of $244,400.00. Following the transaction, the senior vice president now directly owns 9,255 shares in the company, valued at $2,174,925. The disclosure for this sale can be found here. Over the last three months, insiders sold 149,945 shares of company stock worth $33,756,392. Insiders own 3.12% of the company’s stock.

Several large investors have recently made changes to their positions in ORLY. Monetary Management Group Inc. lifted its holdings in O'Reilly Automotive by 16.3% in the second quarter. Monetary Management Group Inc. now owns 465 shares of the specialty retailer’s stock valued at $102,000 after acquiring an additional 65 shares during the period. NEXT Financial Group Inc bought a new position in O'Reilly Automotive in the third quarter valued at about $100,000. Amica Retiree Medical Trust bought a new position in O'Reilly Automotive in the third quarter valued at about $107,000. Proficio Capital Partners LLC lifted its holdings in O'Reilly Automotive by 1.0% in the second quarter. Proficio Capital Partners LLC now owns 501 shares of the specialty retailer’s stock valued at $105,000 after acquiring an additional 5 shares during the period. Finally, Fieldpoint Private Securities LLC bought a new position in O'Reilly Automotive in the third quarter valued at about $141,000. 88.56% of the stock is currently owned by hedge funds and other institutional investors.

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About O'Reilly Automotive

O’Reilly Automotive, Inc is a specialty retailer of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States. The Company sells its products to both do-it-yourself (DIY) and professional service provider customers. The Company’s product line includes new and remanufactured automotive hard parts, such as alternators, starters, fuel pumps, water pumps, brake system components, batteries, belts, hoses, temperature control, chassis parts, driveline parts and engine parts; maintenance items, such as oil, antifreeze, fluids, filters, wiper blades, lighting, engine additives and appearance products, and accessories, such as floor mats, seat covers and truck accessories.

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