Parallel Advisors LLC Increases Stock Position in O'Reilly Automotive, Inc. $ORLY

Key Points

• Parallel Advisors LLC significantly increased its stake in O'Reilly Automotive by 1,336.2%, holding 10,743 shares worth approximately $968,000 after acquiring nearly 10,000 additional shares in the 2nd quarter.
• Multiple institutional investors have also made substantial increases in their positions in O'Reilly Automotive, with holdings now totaling 85% of the company's stock among hedge funds and others.
• Analysts have raised their price targets for O'Reilly Automotive, with the consensus target now set at $106.36, reflecting a largely positive sentiment around the stock.

Parallel Advisors LLC raised its position in shares of O'Reilly Automotive, Inc. (NASDAQ:ORLY - Free Report) by 1,336.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,743 shares of the specialty retailer's stock after buying an additional 9,995 shares during the period. Parallel Advisors LLC's holdings in O'Reilly Automotive were worth $968,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ORLY. Accelerate Investment Advisors LLC lifted its position in shares of O'Reilly Automotive by 1,454.4% in the 2nd quarter. Accelerate Investment Advisors LLC now owns 2,829 shares of the specialty retailer's stock worth $255,000 after purchasing an additional 2,647 shares during the period. Wesbanco Bank Inc. lifted its position in shares of O'Reilly Automotive by 452.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 35,747 shares of the specialty retailer's stock worth $3,222,000 after purchasing an additional 29,279 shares during the period. Verde Capital Management lifted its position in shares of O'Reilly Automotive by 1,524.1% in the 2nd quarter. Verde Capital Management now owns 41,983 shares of the specialty retailer's stock worth $3,784,000 after purchasing an additional 39,398 shares during the period. Kings Path Partners LLC lifted its position in shares of O'Reilly Automotive by 1,400.0% in the 2nd quarter. Kings Path Partners LLC now owns 630 shares of the specialty retailer's stock worth $57,000 after purchasing an additional 588 shares during the period. Finally, Peak Financial Advisors LLC purchased a new position in O'Reilly Automotive during the 2nd quarter valued at about $2,537,000. Hedge funds and other institutional investors own 85.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ORLY shares. Guggenheim lifted their price target on shares of O'Reilly Automotive from $98.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada lifted their price target on shares of O'Reilly Automotive from $98.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Cowen reissued a "buy" rating on shares of O'Reilly Automotive in a research report on Monday. BMO Capital Markets lifted their price target on shares of O'Reilly Automotive from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, UBS Group lifted their price target on shares of O'Reilly Automotive from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, O'Reilly Automotive currently has a consensus rating of "Buy" and a consensus target price of $106.36.

O'Reilly Automotive Trading Down 0.8%

Shares of ORLY opened at $104.55 on Thursday. The firm has a market cap of $88.71 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.78 and a beta of 0.60. The stock has a 50 day moving average of $100.90 and a 200-day moving average of $94.35. O'Reilly Automotive, Inc. has a 52 week low of $73.33 and a 52 week high of $108.42.

O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The specialty retailer reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.54 billion. O'Reilly Automotive had a negative return on equity of 181.53% and a net margin of 14.15%.The business's revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $10.55 EPS. O'Reilly Automotive has set its FY 2025 guidance at 2.850-2.950 EPS. On average, sell-side analysts predict that O'Reilly Automotive, Inc. will post 43.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other O'Reilly Automotive news, SVP Mark Joseph Merz sold 5,050 shares of O'Reilly Automotive stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.07, for a total transaction of $500,303.50. Following the sale, the senior vice president owned 2,876 shares of the company's stock, valued at $284,925.32. The trade was a 63.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Shari Lynne Reaves sold 2,000 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $103.81, for a total value of $207,620.00. Following the completion of the sale, the senior vice president directly owned 12,826 shares in the company, valued at $1,331,467.06. This represents a 13.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,635 shares of company stock worth $12,740,916 over the last 90 days. Insiders own 1.01% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.