O’Reilly Automotive (NASDAQ:ORLY) Issues Quarterly Earnings Results, Misses Estimates By $0.12 EPS

O’Reilly Automotive (NASDAQ:ORLY) posted its earnings results on Wednesday. The specialty retailer reported $11.41 EPS for the quarter, missing analysts’ consensus estimates of $11.53 by ($0.12), Briefing.com reports. O’Reilly Automotive had a negative return on equity of 146.57% and a net margin of 14.57%. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the business posted $10.72 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. O’Reilly Automotive updated its FY24 guidance to $40.60 to $41.10 EPS and its FY 2024 guidance to 40.600-41.100 EPS.

O’Reilly Automotive Stock Down 0.4 %

ORLY stock traded down $4.55 during midday trading on Friday, hitting $1,195.22. The company’s stock had a trading volume of 238,279 shares, compared to its average volume of 374,296. O’Reilly Automotive has a 12 month low of $895.88 and a 12 month high of $1,221.18. The company has a 50 day moving average of $1,149.00 and a two-hundred day moving average of $1,081.47. The firm has a market capitalization of $69.33 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92.

Insider Activity

In related news, Chairman Gregory L. Henslee sold 18,264 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $1,127.55, for a total transaction of $20,593,573.20. Following the completion of the transaction, the chairman now owns 13,347 shares in the company, valued at approximately $15,049,409.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Christopher Andrew Mancini sold 1,557 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $1,125.00, for a total value of $1,751,625.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gregory L. Henslee sold 18,264 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $1,127.55, for a total value of $20,593,573.20. Following the sale, the chairman now directly owns 13,347 shares in the company, valued at $15,049,409.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,411 shares of company stock worth $56,846,062 over the last quarter. Insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ORLY shares. Truist Financial upped their target price on shares of O’Reilly Automotive from $1,290.00 to $1,313.00 and gave the company a “buy” rating in a research note on Friday. Wedbush reiterated a “neutral” rating and set a $1,200.00 price objective on shares of O’Reilly Automotive in a research report on Thursday. JPMorgan Chase & Co. raised their target price on O’Reilly Automotive from $1,125.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group cut their price target on O’Reilly Automotive from $1,275.00 to $1,250.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Royal Bank of Canada raised their price objective on shares of O’Reilly Automotive from $1,115.00 to $1,286.00 and gave the stock an “outperform” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,242.13.

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.