O'Reilly Automotive (NASDAQ:ORLY) Reaches New 12-Month High - What's Next?

Key Points

• O'Reilly Automotive shares have reached a new 52-week high, trading as high as $101.74, with a recent trading price of $101.37 and a volume of 4,338,935 shares.
• Analysts have increased their price targets for O'Reilly, with Citigroup raising its target to $114.00, reflecting a highly favorable outlook with an average rating of "Buy" from analysts.
• Recently announced earnings showed that O'Reilly Automotive reported $0.78 earnings per share, matching the consensus estimate, with revenues up 5.9% year-over-year at $4.53 billion.

O'Reilly Automotive, Inc. (NASDAQ:ORLY - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $101.74 and last traded at $101.37, with a volume of 4338935 shares changing hands. The stock had previously closed at $99.12.

Analyst Ratings Changes

A number of research analysts recently commented on ORLY shares. Citigroup raised their price target on O'Reilly Automotive from $104.00 to $114.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Guggenheim upped their target price on O'Reilly Automotive from $98.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Truist Financial upped their target price on O'Reilly Automotive from $103.00 to $109.00 and gave the company a "buy" rating in a report on Friday, July 25th. BMO Capital Markets boosted their price target on O'Reilly Automotive from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, UBS Group lifted their price objective on shares of O'Reilly Automotive from $105.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, O'Reilly Automotive currently has an average rating of "Buy" and an average price target of $102.22.

O'Reilly Automotive Stock Down 0.9%

The company has a market cap of $88.45 billion, a price-to-earnings ratio of 36.99, a PEG ratio of 2.77 and a beta of 0.56. The stock has a 50 day simple moving average of $92.95 and a 200 day simple moving average of $91.00.

O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The specialty retailer reported $0.78 earnings per share for the quarter, meeting analysts' consensus estimates of $0.78. The business had revenue of $4.53 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.55 earnings per share. As a group, equities research analysts expect that O'Reilly Automotive, Inc. will post 43.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Ramon Parises Odems sold 30,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $90.70, for a total value of $2,720,900.00. Following the sale, the senior vice president directly owned 240 shares of the company's stock, valued at $21,767.20. This trade represents a 99.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Raymond Murphy sold 3,000 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $91.93, for a total value of $275,800.00. Following the sale, the director owned 4,560 shares of the company's stock, valued at approximately $419,216. This trade represents a 39.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,840 shares of company stock worth $6,421,556 over the last 90 days. 1.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On O'Reilly Automotive

Several hedge funds have recently added to or reduced their stakes in ORLY. Bank of New York Mellon Corp boosted its stake in shares of O'Reilly Automotive by 1,317.8% in the second quarter. Bank of New York Mellon Corp now owns 17,651,104 shares of the specialty retailer's stock valued at $1,590,894,000 after purchasing an additional 16,406,181 shares during the period. Jennison Associates LLC lifted its stake in shares of O'Reilly Automotive by 1,820.9% in the 2nd quarter. Jennison Associates LLC now owns 14,116,976 shares of the specialty retailer's stock worth $1,272,363,000 after acquiring an additional 13,382,074 shares during the period. Vanguard Group Inc. increased 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. Bessemer Group Inc. lifted its position in shares of O'Reilly Automotive by 1,558.2% in the second quarter. Bessemer Group Inc. now owns 4,356,249 shares of the specialty retailer's stock valued at $392,630,000 after acquiring an additional 4,093,545 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of O'Reilly Automotive by 1,388.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,853,598 shares of the specialty retailer's stock worth $347,325,000 after buying an additional 3,594,612 shares during the period. 85.00% of the stock is owned by hedge funds and other institutional investors.

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.