O’Reilly Automotive (NASDAQ:ORLY) Issues Earnings Results, Beats Expectations By $0.02 EPS

O’Reilly Automotive (NASDAQ:ORLY) released its earnings results on Wednesday. The specialty retailer reported $9.20 earnings per share for the quarter, beating the consensus estimate of $9.18 by $0.02, Briefing.com reports. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.99 billion. O’Reilly Automotive had a negative return on equity of 145.86% and a net margin of 14.78%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.28 earnings per share. O’Reilly Automotive updated its FY24 guidance to $41.35-41.85 EPS and its FY 2024 guidance to 41.350-41.850 EPS.

O’Reilly Automotive Price Performance

ORLY stock traded down $10.20 during midday trading on Friday, hitting $1,043.93. The company’s stock had a trading volume of 335,739 shares, compared to its average volume of 330,021. The company’s fifty day moving average price is $1,097.20 and its 200 day moving average price is $1,015.51. O’Reilly Automotive has a twelve month low of $860.10 and a twelve month high of $1,169.11. The stock has a market capitalization of $61.62 billion, a P/E ratio of 26.50, a PEG ratio of 1.93 and a beta of 0.86.

Insider Transactions at O’Reilly Automotive

In related news, SVP Jeffrey Alan Lauro sold 431 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $1,038.63, for a total transaction of $447,649.53. Following the completion of the transaction, the senior vice president now directly owns 963 shares of the company’s stock, valued at $1,000,200.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Jeffrey Alan Lauro sold 431 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $1,038.63, for a total transaction of $447,649.53. Following the transaction, the senior vice president now directly owns 963 shares in the company, valued at $1,000,200.69. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Doug D. Bragg sold 1,218 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $1,063.54, for a total transaction of $1,295,391.72. Following the completion of the sale, the executive vice president now owns 5,533 shares of the company’s stock, valued at approximately $5,884,566.82. The disclosure for this sale can be found here. Insiders sold a total of 25,968 shares of company stock worth $27,269,333 in the last three months. Insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

ORLY has been the topic of a number of analyst reports. Barclays increased their price target on shares of O’Reilly Automotive from $954.00 to $986.00 and gave the company an “equal weight” rating in a research report on Thursday, January 4th. Mizuho started coverage on shares of O’Reilly Automotive in a research report on Tuesday, March 19th. They set a “buy” rating and a $1,225.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of O’Reilly Automotive from $1,300.00 to $1,200.00 and set an “overweight” rating for the company in a report on Thursday. Wedbush reaffirmed a “neutral” rating and set a $1,100.00 price objective on shares of O’Reilly Automotive in a research note on Thursday. Finally, Evercore ISI cut their price objective on O’Reilly Automotive from $1,220.00 to $1,200.00 and set an “outperform” rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,106.31.

About O’Reilly Automotive

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, Puerto Rico, 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.