O’Reilly Automotive (NASDAQ:ORLY) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

O’Reilly Automotive (NASDAQ:ORLY) announced its quarterly earnings data on Wednesday. The specialty retailer reported $9.20 EPS for the quarter, topping the consensus estimate of $9.18 by $0.02, Briefing.com reports. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.99 billion. O’Reilly Automotive had a net margin of 14.78% and a negative return on equity of 145.86%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $8.28 EPS. O’Reilly Automotive updated its FY24 guidance to $41.35-41.85 EPS and its FY 2024 guidance to 41.350-41.850 EPS.

O’Reilly Automotive Price Performance

Shares of NASDAQ ORLY traded down $10.20 during mid-day trading on Friday, reaching $1,043.93. 335,739 shares of the company’s stock were exchanged, compared to its average volume of 330,021. The firm has a market capitalization of $61.62 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. O’Reilly Automotive has a 52 week low of $860.10 and a 52 week high of $1,169.11. The firm has a 50-day moving average price of $1,097.20 and a two-hundred day moving average price of $1,015.51.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ORLY. Wedbush reissued a “neutral” rating and issued a $1,100.00 price target on shares of O’Reilly Automotive in a research report on Thursday. Barclays lifted their price target on shares of O’Reilly Automotive from $954.00 to $986.00 and gave the company an “equal weight” rating in a research report on Thursday, January 4th. StockNews.com raised shares of O’Reilly Automotive from a “hold” rating to a “buy” rating in a research report on Thursday. Evercore ISI reduced their price target on shares of O’Reilly Automotive from $1,220.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Mizuho began coverage on shares of O’Reilly Automotive in a report on Tuesday, March 19th. They set a “buy” rating and a $1,225.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,106.31.

Insider Transactions at O’Reilly Automotive

In related news, EVP Doug D. Bragg sold 1,218 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $1,063.54, for a total value of $1,295,391.72. Following the sale, the executive vice president now directly owns 5,533 shares in the company, valued at approximately $5,884,566.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman David E. Oreilly sold 6,444 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $1,062.60, for a total transaction of $6,847,394.40. Following the sale, the chairman now directly owns 205,095 shares in the company, valued at $217,933,947. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Doug D. Bragg sold 1,218 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $1,063.54, for a total value of $1,295,391.72. Following the sale, the executive vice president now owns 5,533 shares in the company, valued at $5,884,566.82. The disclosure for this sale can be found here. Insiders have sold 25,968 shares of company stock worth $27,269,333 in the last ninety days. Company insiders own 1.55% 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.