O'Reilly Automotive (NASDAQ:ORLY) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Wednesday.
Several other analysts have also recently commented on ORLY. Moffett Nathanson assumed coverage on O'Reilly Automotive in a research report on Monday, December 4th. They issued a “buy” rating on the stock. Robert W. Baird restated a “hold” rating and issued a $220.00 target price on shares of O'Reilly Automotive in a research report on Friday, October 27th. Oppenheimer set a $220.00 target price on O'Reilly Automotive and gave the company a “buy” rating in a research report on Thursday, October 26th. UBS restated a “buy” rating and issued a $240.00 target price (up from $230.00) on shares of O'Reilly Automotive in a research report on Thursday, October 19th. Finally, Credit Suisse Group set a $193.00 price target on O'Reilly Automotive and gave the company a “hold” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. O'Reilly Automotive has a consensus rating of “Buy” and an average target price of $243.48.
O'Reilly Automotive (ORLY) traded down $0.94 on Wednesday, reaching $245.92. The company had a trading volume of 1,223,054 shares, compared to its average volume of 1,302,792. O'Reilly Automotive has a 12-month low of $169.43 and a 12-month high of $286.57. The company has a current ratio of 0.93, a quick ratio of 0.10 and a debt-to-equity ratio of 4.72. The firm has a market cap of $21,022.25, a PE ratio of 21.48, a P/E/G ratio of 1.46 and a beta of 0.84.
O'Reilly Automotive declared that its Board of Directors has initiated a stock repurchase plan on Friday, September 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 5.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
In related news, Director Paul R. Lederer sold 1,130 shares of O'Reilly Automotive stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $211.00, for a total value of $238,430.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas Mcfall sold 10,000 shares of O'Reilly Automotive stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. The disclosure for this sale can be found here. Insiders sold a total of 149,945 shares of company stock worth $33,756,392 over the last 90 days. Insiders own 3.12% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of O'Reilly Automotive by 9.1% in the 2nd quarter. BlackRock Inc. now owns 6,213,274 shares of the specialty retailer’s stock worth $1,359,092,000 after acquiring an additional 520,626 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of O'Reilly Automotive by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,102,530 shares of the specialty retailer’s stock worth $1,334,868,000 after acquiring an additional 66,172 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of O'Reilly Automotive by 66.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,123,465 shares of the specialty retailer’s stock worth $683,226,000 after acquiring an additional 1,251,237 shares during the last quarter. Polen Capital Management LLC grew its holdings in shares of O'Reilly Automotive by 29.4% in the 3rd quarter. Polen Capital Management LLC now owns 2,672,521 shares of the specialty retailer’s stock worth $575,581,000 after acquiring an additional 607,076 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of O'Reilly Automotive by 45.7% in the 3rd quarter. Principal Financial Group Inc. now owns 2,583,140 shares of the specialty retailer’s stock worth $556,331,000 after acquiring an additional 809,647 shares during the last quarter. Institutional investors and hedge funds own 88.56% of the company’s stock.
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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.
