O'Reilly Automotive (ORLY) Upgraded at Zacks Investment Research

O'Reilly Automotive (NASDAQ:ORLY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $272.00 price target on the specialty retailer’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.18% from the company’s previous close.

According to Zacks, “O’Reilly has been taking several initiatives to expand its presence in the United States and other contiguous markets. In the first nine-months of 2017, the company opened 162 new stores the United States. Further, it has plans to open 200 more outlets in 2018. It has also been acquiring businesses to expand its presence. It has also provided a positive earnings outlook for fiscal 2017. In the last three months, shares of O’Reilly have outperformed against the industry it belongs to. However, few headwinds the company has been facing include high fixed costs, increasing wage rates and increased investments. Also, a huge inventory is hampering the short-term liquidity of the company in periods of low sales.”

Several other equities research analysts have also issued reports on ORLY. BidaskClub lowered O'Reilly Automotive from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 19th. Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price (up from $195.00) on shares of O'Reilly Automotive in a research report on Friday, December 15th. Robert W. Baird reaffirmed a “hold” rating and issued a $220.00 target price on shares of O'Reilly Automotive in a research report on Friday, October 27th. Moffett Nathanson initiated coverage on O'Reilly Automotive in a research report on Monday, December 4th. They issued a “buy” rating on the stock. Finally, Oppenheimer set a $220.00 target price on O'Reilly Automotive and gave the stock a “buy” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $247.27.

Shares of O'Reilly Automotive (ORLY) traded up $2.15 on Wednesday, hitting $244.65. The company’s stock had a trading volume of 646,300 shares, compared to its average volume of 1,296,125. O'Reilly Automotive has a one year low of $169.43 and a one year high of $284.99. The firm has a market cap of $20,619.22, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.43 and a beta of 0.84. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.10 and a current ratio of 0.93.

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

O'Reilly Automotive declared that its board has initiated a stock buyback program on Friday, September 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 5.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In related news, SVP Scott E. Kraus sold 8,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 4,959 shares of the company’s stock, valued at $1,179,448.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David E. Oreilly sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $220.29, for a total value of $15,420,300.00. Following the transaction, the chairman now directly owns 135,776 shares of the company’s stock, valued at approximately $29,910,095.04. The disclosure for this sale can be found here. In the last three months, insiders sold 149,945 shares of company stock valued at $33,756,392. Company insiders own 3.12% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its holdings in shares of O'Reilly Automotive by 1.4% during the second quarter. Pacer Advisors Inc. now owns 3,053 shares of the specialty retailer’s stock valued at $668,000 after purchasing an additional 42 shares during the last quarter. Monetary Management Group Inc. lifted its stake in O'Reilly Automotive by 16.3% in the 2nd quarter. Monetary Management Group Inc. now owns 465 shares of the specialty retailer’s stock worth $102,000 after acquiring an additional 65 shares in the last quarter. HPM Partners LLC lifted its stake in O'Reilly Automotive by 0.9% in the 2nd quarter. HPM Partners LLC now owns 8,775 shares of the specialty retailer’s stock worth $1,919,000 after acquiring an additional 82 shares in the last quarter. WMS Partners LLC lifted its stake in O'Reilly Automotive by 3.2% in the 2nd quarter. WMS Partners LLC now owns 3,019 shares of the specialty retailer’s stock worth $660,000 after acquiring an additional 93 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in O'Reilly Automotive by 15.9% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 730 shares of the specialty retailer’s stock worth $160,000 after acquiring an additional 100 shares in the last quarter. 88.33% of the stock is owned by institutional investors and hedge funds.

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O'Reilly Automotive Company Profile

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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