Lord Abbett & CO. LLC Acquires New Holdings in O'Reilly Automotive, Inc. (NASDAQ:ORLY)

Key Points

• Lord Abbett & CO. LLC has acquired a new stake in O'Reilly Automotive, Inc., purchasing 17,400 shares valued at approximately $24.9 million during the first quarter.
• Several hedge funds have also invested in O'Reilly, contributing to institutional investors owning 85% of the company's stock.
• O'Reilly Automotive reported earnings of $0.78 per share for the last quarter, matching analysts' expectations, while the company's stock price currently sits around $101.54.

Lord Abbett & CO. LLC acquired a new stake in shares of O'Reilly Automotive, Inc. (NASDAQ:ORLY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,400 shares of the specialty retailer's stock, valued at approximately $24,927,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORLY. HWG Holdings LP bought a new position in shares of O'Reilly Automotive in the first quarter valued at approximately $26,000. Bank of Jackson Hole Trust bought a new position in shares of O'Reilly Automotive in the first quarter valued at approximately $25,000. HighMark Wealth Management LLC raised its position in shares of O'Reilly Automotive by 185.7% in the first quarter. HighMark Wealth Management LLC now owns 20 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 13 shares during the period. Piscataqua Savings Bank bought a new position in shares of O'Reilly Automotive in the first quarter valued at approximately $43,000. Finally, Vestor Capital LLC bought a new position in shares of O'Reilly Automotive in the first quarter valued at approximately $43,000. Institutional investors own 85.00% of the company's stock.

O'Reilly Automotive Stock Up 0.0%

Shares of NASDAQ ORLY opened at $101.54 on Friday. The firm's 50-day simple moving average is $94.27 and its 200 day simple moving average is $91.76. The company has a market cap of $86.16 billion, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. O'Reilly Automotive, Inc. has a 12-month low of $73.11 and a 12-month high of $104.86.

O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.54 billion. O'Reilly Automotive had a net margin of 14.15% and a negative return on equity of 181.53%. The firm's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.55 EPS. On average, equities analysts expect that O'Reilly Automotive, Inc. will post 43.94 earnings per share for the current year.

Insider Buying and Selling at O'Reilly Automotive

In related news, Director John Raymond Murphy sold 3,000 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $91.93, for a total transaction of $275,800.00. Following the transaction, the director owned 4,560 shares in the company, valued at $419,216. This represents a 39.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark Joseph Merz sold 29,505 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.25, for a total transaction of $2,898,866.25. Following the transaction, the senior vice president owned 4,234 shares in the company, valued at approximately $415,990.50. The trade was a 87.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,920 shares of company stock worth $15,763,302 over the last quarter. Corporate insiders own 1.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ORLY. Wells Fargo & Company lifted their price target on shares of O'Reilly Automotive from $103.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Morgan Stanley reissued an "overweight" rating on shares of O'Reilly Automotive in a research report on Thursday, April 24th. Citigroup lifted their price target on shares of O'Reilly Automotive from $104.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Truist Financial boosted their target price on shares of O'Reilly Automotive from $103.00 to $109.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, DA Davidson boosted their target price on shares of O'Reilly Automotive from $107.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $103.38.

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.

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