Q3 2017 EPS Estimates for O’Reilly Automotive, Inc. (ORLY) Lowered by Oppenheimer Holdings
O’Reilly Automotive, Inc. (NASDAQ:ORLY) – Equities researchers at Oppenheimer Holdings dropped their Q3 2017 earnings per share (EPS) estimates for O’Reilly Automotive in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst B. Nagel now anticipates that the specialty retailer will post earnings of $3.22 per share for the quarter, down from their prior forecast of $3.32. Oppenheimer Holdings currently has a “Outperform” rating and a $220.00 target price on the stock. Oppenheimer Holdings also issued estimates for O’Reilly Automotive’s Q4 2017 earnings at $2.90 EPS, FY2017 earnings at $11.82 EPS and FY2018 earnings at $12.86 EPS.
Several other equities research analysts also recently issued reports on ORLY. Cleveland Research downgraded O’Reilly Automotive from a “buy” rating to a “neutral” rating in a research report on Monday, April 3rd. Atlantic Securities raised O’Reilly Automotive to an “overweight” rating and set a $307.00 price target on the stock in a research report on Friday, April 7th. They noted that the move was a valuation call. Deutsche Bank AG downgraded O’Reilly Automotive from a “buy” rating to a “hold” rating and lowered their price target for the company from $315.00 to $273.00 in a research report on Tuesday, April 25th. Royal Bank Of Canada lowered their price target on O’Reilly Automotive from $304.00 to $297.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 25th. Finally, Credit Suisse Group set a $290.00 price target on O’Reilly Automotive and gave the company a “buy” rating in a research report on Monday, April 24th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $253.70.
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O’Reilly Automotive (NASDAQ ORLY) opened at 188.69 on Friday. The firm has a market cap of $17.17 billion, a PE ratio of 17.20 and a beta of 0.76. O’Reilly Automotive has a 1-year low of $169.43 and a 1-year high of $292.84. The company has a 50 day moving average price of $212.51 and a 200 day moving average price of $250.86.
O’Reilly Automotive (NASDAQ:ORLY) last issued its earnings results on Wednesday, April 26th. The specialty retailer reported $2.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by $0.28. O’Reilly Automotive had a return on equity of 61.79% and a net margin of 12.10%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the company earned $2.59 EPS. O’Reilly Automotive’s quarterly revenue was up 2.9% on a year-over-year basis.
O’Reilly Automotive announced that its board has approved a share repurchase program on Wednesday, May 10th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In related news, Chairman David E. Oreilly sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $250.56, for a total value of $6,264,000.00. Following the completion of the transaction, the chairman now owns 145,568 shares in the company, valued at approximately $36,473,518.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Randy Johnson sold 1,040 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $218.74, for a total transaction of $227,489.60. Following the completion of the transaction, the senior vice president now owns 9,224 shares of the company’s stock, valued at approximately $2,017,657.76. The disclosure for this sale can be found here. Insiders sold a total of 26,640 shares of company stock valued at $6,639,552 in the last 90 days. 3.12% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. acquired a new stake in O’Reilly Automotive during the first quarter worth approximately $236,000. Creative Planning raised its stake in O’Reilly Automotive by 6.3% in the first quarter. Creative Planning now owns 7,696 shares of the specialty retailer’s stock worth $2,077,000 after buying an additional 456 shares in the last quarter. Paradigm Financial Advisors LLC raised its stake in O’Reilly Automotive by 2.5% in the first quarter. Paradigm Financial Advisors LLC now owns 1,585 shares of the specialty retailer’s stock worth $427,000 after buying an additional 38 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in O’Reilly Automotive by 473.9% in the first quarter. Manning & Napier Advisors LLC now owns 144,450 shares of the specialty retailer’s stock worth $38,977,000 after buying an additional 119,280 shares in the last quarter. Finally, Rathbone Brothers plc acquired a new stake in O’Reilly Automotive during the first quarter worth approximately $18,160,000. 91.55% of the stock is owned by hedge funds and other institutional investors.
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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