Oppenheimer Comments on O’Reilly Automotive, Inc.’s Q2 2023 Earnings (NASDAQ:ORLY)

Posted by on May 4th, 2023

O’Reilly Automotive, Inc. (NASDAQ:ORLY – Get Rating) – Stock analysts at Oppenheimer upped their Q2 2023 earnings per share (EPS) estimates for shares of O’Reilly Automotive in a report released on Monday, May 1st. Oppenheimer analyst B. Nagel now anticipates that the specialty retailer will post earnings of $9.71 per share for the quarter, up from their previous estimate of $9.56. Oppenheimer currently has a “Outperform” rating and a $890.00 target price on the stock. The consensus estimate for O’Reilly Automotive’s current full-year earnings is $37.00 per share. Oppenheimer also issued estimates for O’Reilly Automotive’s Q3 2023 earnings at $9.85 EPS, Q4 2023 earnings at $8.77 EPS, FY2023 earnings at $36.60 EPS, FY2024 earnings at $39.55 EPS and FY2025 earnings at $43.33 EPS.

O’Reilly Automotive (NASDAQ:ORLY – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The specialty retailer reported $8.28 EPS for the quarter, beating the consensus estimate of $8.00 by $0.28. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.58 billion. O’Reilly Automotive had a negative return on equity of 176.66% and a net margin of 14.90%. O’Reilly Automotive’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.17 EPS.

Several other equities analysts also recently commented on the company. DA Davidson upped their price objective on O’Reilly Automotive from $975.00 to $1,050.00 in a research report on Friday, April 28th. Barclays upped their target price on O’Reilly Automotive from $815.00 to $868.00 in a report on Monday. Wedbush upped their target price on O’Reilly Automotive from $820.00 to $920.00 in a report on Thursday, April 27th. Citigroup upped their target price on O’Reilly Automotive from $893.00 to $916.00 in a report on Friday, April 28th. Finally, Stephens reiterated an “overweight” rating and issued a $900.00 target price on shares of O’Reilly Automotive in a report on Thursday, February 9th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $916.81.

O’Reilly Automotive Stock Down 0.5 %

Shares of O’Reilly Automotive stock opened at $931.67 on Wednesday. The stock’s fifty day moving average is $857.04 and its two-hundred day moving average is $834.01. The company has a market capitalization of $57.61 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 1.92 and a beta of 0.88. O’Reilly Automotive has a 52 week low of $562.90 and a 52 week high of $941.87.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of O’Reilly Automotive in the fourth quarter valued at about $568,266,000. Morgan Stanley increased its holdings in shares of O’Reilly Automotive by 113.8% in the fourth quarter. Morgan Stanley now owns 1,193,792 shares of the specialty retailer’s stock valued at $1,007,597,000 after purchasing an additional 635,416 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in shares of O’Reilly Automotive by 101,509.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 531,416 shares of the specialty retailer’s stock valued at $448,531,000 after purchasing an additional 530,893 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of O’Reilly Automotive by 128.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 687,486 shares of the specialty retailer’s stock valued at $470,900,000 after purchasing an additional 386,822 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of O’Reilly Automotive by 47.7% in the fourth quarter. Bank of America Corp DE now owns 1,186,104 shares of the specialty retailer’s stock valued at $1,001,107,000 after purchasing an additional 382,946 shares during the period. 90.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Jeffrey Alan Lauro sold 500 shares of the company’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $834.31, for a total transaction of $417,155.00. Following the completion of the sale, the senior vice president now directly owns 768 shares in the company, valued at approximately $640,750.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.55% of the stock is currently owned by company insiders.

O’Reilly Automotive Company Profile

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O’Reilly Automotive, Inc owns and operates retail outlets in the United States. It engages in the distribution and retailing of automotive aftermarket parts, tools, supplies, equipment, and accessories in the U.S., serving both professional installers and do-it-yourself customers. It provides new and remanufactured automotive hard parts, including alternators, starters, fuel pumps, water pumps, brake system components, batteries, belts, hoses, temperature controls, chassis parts and engine parts, maintenance items consisting of oil, antifreeze products, fluids, filters, lighting products, engine additives, and appearance products, and accessories, such as floor mats, seat covers, and truck accessories.

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Earnings History and Estimates for O'Reilly Automotive (NASDAQ:ORLY)

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