Truist Financial Corp Purchases 297,323 Shares of O'Reilly Automotive, Inc. $ORLY

Key Points

• Truist Financial Corp increased its stake in O'Reilly Automotive by 1,696.1% during the second quarter, acquiring an additional 297,323 shares, bringing its total holdings to 314,853 shares valued at approximately $28.4 million.
• Multiple brokerages have raised their price targets for O'Reilly Automotive, with Wells Fargo setting a new target of $105 and BMO Capital Markets raising theirs to $110, indicating strong positive sentiment among analysts.
• O'Reilly Automotive's latest quarterly earnings met consensus estimates, reporting earnings of $0.78 EPS and revenue of $4.53 billion, reflecting a 5.9% increase year-over-year.

Truist Financial Corp increased its position in shares of O'Reilly Automotive, Inc. (NASDAQ:ORLY - Free Report) by 1,696.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 314,853 shares of the specialty retailer's stock after purchasing an additional 297,323 shares during the period. Truist Financial Corp's holdings in O'Reilly Automotive were worth $28,378,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in O'Reilly Automotive by 16.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,195 shares of the specialty retailer's stock valued at $33,227,000 after acquiring an additional 3,272 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of O'Reilly Automotive by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 5,238,396 shares of the specialty retailer's stock valued at $7,504,421,000 after purchasing an additional 75,125 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of O'Reilly Automotive by 33.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 583,812 shares of the specialty retailer's stock valued at $836,357,000 after purchasing an additional 147,904 shares in the last quarter. CCM Investment Group LLC purchased a new stake in O'Reilly Automotive during the first quarter worth $4,672,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of O'Reilly Automotive by 52.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,242 shares of the specialty retailer's stock worth $16,105,000 after purchasing an additional 3,866 shares during the last quarter. Institutional investors own 85.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ORLY. Wells Fargo & Company lifted their price objective on shares of O'Reilly Automotive from $103.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. BMO Capital Markets raised their price target on shares of O'Reilly Automotive from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Argus started coverage on shares of O'Reilly Automotive in a report on Wednesday, August 13th. They set a "buy" rating and a $120.00 price objective on the stock. Evercore ISI lifted their price target on O'Reilly Automotive from $108.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Finally, DA Davidson upped their price objective on shares of O'Reilly Automotive from $107.00 to $115.00 and gave the company a "buy" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $107.17.

O'Reilly Automotive Stock Down 0.7%

ORLY opened at $104.97 on Friday. O'Reilly Automotive, Inc. has a 52-week low of $75.93 and a 52-week high of $108.71. The company has a market cap of $89.07 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 2.79 and a beta of 0.60. The firm's fifty day simple moving average is $103.46 and its two-hundred day simple moving average is $95.57.

O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) last posted its quarterly earnings data 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%.O'Reilly Automotive's quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $10.55 EPS. O'Reilly Automotive has set its FY 2025 guidance at 2.850-2.950 EPS. On average, research analysts forecast that O'Reilly Automotive, Inc. will post 43.94 EPS for the current year.

Insider Buying and Selling at O'Reilly Automotive

In other O'Reilly Automotive news, SVP Mark Joseph Merz sold 29,505 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was 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 of the company's stock, valued at approximately $415,990.50. The trade was a 87.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Shari Lynne Reaves sold 2,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $103.81, for a total transaction of $207,620.00. Following the transaction, the senior vice president directly owned 12,826 shares in the company, valued at approximately $1,331,467.06. The trade was a 13.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 125,635 shares of company stock valued at $12,740,916. Corporate insiders own 1.01% of the company's stock.

O'Reilly Automotive 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.

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