O'Reilly Automotive (NASDAQ:ORLY) Stock Breaks Above 200 Day Moving Average - What's Next?

Key Points

• O’Reilly Automotive shares rose 1.3% and moved above their 200-day moving average of $90.30, trading as high as $90.59 and last at $90.54.
• Quarterly results topped expectations: EPS was $0.97 versus $0.93 estimated, while revenue of $5.12 billion exceeded forecasts and grew 8.8% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with a $108 average price target; ratings include 17 Buy or Strong Buy and three Hold recommendations.

O'Reilly Automotive, Inc. (NASDAQ:ORLY - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $90.30 and traded as high as $90.59. O'Reilly Automotive shares last traded at $90.54, with a volume of 6,978,892 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Evercore reissued an "outperform" rating on shares of O'Reilly Automotive in a research note on Monday, October 26th. Weiss Ratings lowered O'Reilly Automotive from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, August 27th. Sanford C. Bernstein began coverage on O'Reilly Automotive in a report on Tuesday, September 29th. They issued a "market perform" rating and a $94.00 target price on the stock. Morgan Stanley reduced their target price on O'Reilly Automotive from $112.00 to $108.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Finally, Wolfe Research set a $98.00 target price on shares of O'Reilly Automotive in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.00.

O'Reilly Automotive Trading Up 1.3%

The company has a 50-day moving average price of $87.42 and a two-hundred day moving average price of $90.30. The stock has a market capitalization of $72.62 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 2.12 and a beta of 0.55.

O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) last issued its earnings results on Wednesday, October 28th. The specialty retailer reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.02 billion. O'Reilly Automotive had a negative return on equity of 188.24% and a net margin of 14.27%. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. Research analysts forecast that O'Reilly Automotive, Inc. will post 3.31 earnings per share for the current year.

Insider Transactions at O'Reilly Automotive

In other news, Director Thomas Hendrickson sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $87.83, for a total transaction of $87,830.00. Following the transaction, the director directly owned 18,675 shares of the company's stock, valued at $1,640,225.25. This represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gregory Henslee sold 138,705 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $91.75, for a total value of $12,726,183.75. Following the completion of the transaction, the chairman owned 241,950 shares in the company, valued at approximately $22,198,912.50. This represents a 36.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 148,655 shares of company stock worth $13,623,283. Insiders own 0.77% of the company's stock.

Hedge Funds Weigh In On O'Reilly Automotive

A number of hedge funds have recently added to or reduced their stakes in ORLY. BlackRock Inc. bought a new position in shares of O'Reilly Automotive during the second quarter valued at about $5,950,042,000. Bank of New York Mellon Corp purchased a new position in O'Reilly Automotive during the second quarter worth about $1,023,936,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in O'Reilly Automotive by 1.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,329,667 shares of the specialty retailer's stock worth $859,169,000 after purchasing an additional 141,915 shares in the last quarter. Amundi grew its position in O'Reilly Automotive by 19.7% in the 1st quarter. Amundi now owns 8,497,984 shares of the specialty retailer's stock worth $784,449,000 after purchasing an additional 1,397,671 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in O'Reilly Automotive in the 2nd quarter worth about $721,747,000. Institutional investors and hedge funds own 85.00% of the company's stock.

O'Reilly Automotive Company Profile

O'Reilly Automotive, Inc. is a specialty retailer of automotive aftermarket parts, tools and accessories. Its products serve both do-it-yourself customers maintaining their own vehicles and professional repair shops. The company also offers services such as battery testing, check-engine-light code reading and parts installation assistance. Its operations include retail stores and distribution centers that support customers and professional service providers. Founded in 1957 by Charles F. O'Reilly and his son Charles H. O'Reilly, the company opened its first store in Springfield, Missouri.

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