O’Reilly Automotive (NASDAQ:ORLY) Shares Gap Down Following Analyst Downgrade

O’Reilly Automotive, Inc. (NASDAQ:ORLY) gapped down prior to trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $1,300.00 to $1,200.00. The stock had previously closed at $1,092.70, but opened at $1,020.00. Wells Fargo & Company currently has an overweight rating on the stock. O’Reilly Automotive shares last traded at $1,022.58, with a volume of 213,046 shares trading hands.

A number of other equities research analysts have also recently issued reports on ORLY. Wedbush reiterated a “neutral” rating and set a $1,100.00 price objective on shares of O’Reilly Automotive in a research note on Thursday. Truist Financial upped their price objective on O’Reilly Automotive from $1,149.00 to $1,234.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. StockNews.com upgraded O’Reilly Automotive from a “hold” rating to a “buy” rating in a research note on Thursday. Evercore ISI dropped their price target on O’Reilly Automotive from $1,240.00 to $1,220.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Finally, Mizuho assumed coverage on O’Reilly Automotive in a research note on Tuesday, March 19th. They issued a “buy” rating and a $1,225.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,108.94.

Insider Buying and Selling at O’Reilly Automotive

In other news, CFO Jeremy Adam Fletcher sold 5,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $1,028.00, for a total transaction of $5,140,000.00. Following the sale, the chief financial officer now directly owns 2,335 shares of the company’s stock, valued at approximately $2,400,380. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Doug D. Bragg sold 1,218 shares of the company’s stock in a transaction on Monday, February 26th. The stock was 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 directly owns 5,533 shares in the company, valued at approximately $5,884,566.82. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jeremy Adam Fletcher sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $1,028.00, for a total value of $5,140,000.00. Following the sale, the chief financial officer now owns 2,335 shares of the company’s stock, valued at $2,400,380. The disclosure for this sale can be found here. Insiders have sold a total of 25,968 shares of company stock valued at $27,269,333 in the last ninety days. 1.55% of the stock is currently owned by corporate insiders.

Institutional Trading of O’Reilly Automotive

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in O’Reilly Automotive in the fourth quarter valued at about $671,384,000. International Assets Investment Management LLC raised its position in O’Reilly Automotive by 89,319.3% in the fourth quarter. International Assets Investment Management LLC now owns 653,655 shares of the specialty retailer’s stock valued at $621,025,000 after purchasing an additional 652,924 shares during the last quarter. Wellington Management Group LLP raised its position in O’Reilly Automotive by 656.2% in the fourth quarter. Wellington Management Group LLP now owns 457,625 shares of the specialty retailer’s stock valued at $434,780,000 after purchasing an additional 397,108 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in O’Reilly Automotive in the third quarter valued at about $198,365,000. Finally, Assenagon Asset Management S.A. raised its position in O’Reilly Automotive by 269.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 216,787 shares of the specialty retailer’s stock valued at $205,965,000 after purchasing an additional 158,075 shares during the last quarter. 85.00% of the stock is currently owned by institutional investors.

O’Reilly Automotive Price Performance

The stock has a market capitalization of $60.53 billion, a P/E ratio of 26.57, a P/E/G ratio of 1.98 and a beta of 0.86. The firm has a 50-day simple moving average of $1,097.21 and a 200 day simple moving average of $1,014.34.

O’Reilly Automotive (NASDAQ:ORLY) last posted its earnings results on Thursday, April 25th. The specialty retailer reported $9.20 EPS for the quarter, beating the consensus estimate of $9.18 by $0.02. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.99 billion. O’Reilly Automotive had a negative return on equity of 139.01% and a net margin of 14.84%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $8.28 earnings per share. Sell-side analysts anticipate that O’Reilly Automotive, Inc. will post 42.1 earnings per share for the current fiscal year.

O’Reilly Automotive Company Profile

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.