Chicago Partners Investment Group LLC boosted its stake in shares of O’Reilly Automotive, Inc. (NASDAQ:ORLY) by 11.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,567 shares of the specialty retailer’s stock after purchasing an additional 260 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in O’Reilly Automotive were worth $1,351,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Concord Wealth Partners acquired a new stake in shares of O’Reilly Automotive during the 4th quarter valued at $25,000. Childress Capital Advisors LLC acquired a new stake in shares of O’Reilly Automotive in the fourth quarter worth $27,000. Pinnacle Bancorp Inc. bought a new stake in shares of O’Reilly Automotive during the 1st quarter worth $36,000. Cumberland Partners Ltd acquired a new position in O’Reilly Automotive in the 4th quarter valued at $38,000. Finally, GPS Wealth Strategies Group LLC bought a new position in O’Reilly Automotive in the 1st quarter worth $43,000. 82.00% of the stock is owned by institutional investors.
A number of research firms have recently commented on ORLY. Wells Fargo & Company lifted their price objective on O’Reilly Automotive from $575.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, April 19th. They noted that the move was a valuation call. DA Davidson upped their price target on O’Reilly Automotive from $480.00 to $550.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley lifted their price objective on O’Reilly Automotive from $560.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. Royal Bank of Canada upped their target price on O’Reilly Automotive from $578.00 to $595.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Wedbush lifted their price target on shares of O’Reilly Automotive from $460.00 to $540.00 and gave the stock a “neutral” rating in a research note on Thursday, April 29th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $529.70.
O’Reilly Automotive (NASDAQ:ORLY) last issued its quarterly earnings results on Tuesday, April 27th. The specialty retailer reported $7.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.47 by $1.59. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $2.80 billion. O’Reilly Automotive had a return on equity of 373.35% and a net margin of 14.96%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.97 earnings per share. As a group, research analysts forecast that O’Reilly Automotive, Inc. will post 23.13 EPS for the current year.
O’Reilly Automotive announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 10th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
In other news, Director Thomas Hendrickson sold 350 shares of the business’s stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $450.00, for a total transaction of $157,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeff M. Shaw sold 5,974 shares of the company’s stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $550.33, for a total value of $3,287,671.42. Following the completion of the sale, the chief operating officer now directly owns 29,379 shares of the company’s stock, valued at $16,168,145.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,203 shares of company stock valued at $31,246,099. 2.43% of the stock is owned by insiders.
O’Reilly Automotive Company Profile
O'Reilly Automotive, Inc, together with its subsidiaries, operates as a retailer of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States. 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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