O’Reilly Automotive (NASDAQ:ORLY) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.
Several other brokerages have also recently weighed in on ORLY. Wedbush increased their price target on shares of O’Reilly Automotive from $250.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, July 26th. Stephens reissued a “buy” rating and set a $350.00 price target on shares of O’Reilly Automotive in a research report on Friday, July 27th. Bank of America reissued a “top pick” rating and set a $390.00 price target (up previously from $330.00) on shares of O’Reilly Automotive in a research report on Monday, September 17th. Wells Fargo & Co reissued a “buy” rating and set a $345.00 price target on shares of O’Reilly Automotive in a research report on Wednesday, October 24th. Finally, Morgan Stanley increased their price target on shares of O’Reilly Automotive from $290.00 to $310.00 and gave the company an “equal weight” rating in a research report on Thursday, July 26th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $340.63.
Shares of O’Reilly Automotive stock opened at $345.58 on Wednesday. O’Reilly Automotive has a 52-week low of $214.87 and a 52-week high of $363.20. The firm has a market capitalization of $27.68 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 1.37 and a beta of 1.07. The company has a debt-to-equity ratio of 6.37, a current ratio of 0.91 and a quick ratio of 0.11.
O’Reilly Automotive declared that its Board of Directors has approved a stock buyback program on Tuesday, November 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
In other O’Reilly Automotive news, Chairman David E. Oreilly sold 5,000 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $330.92, for a total value of $1,654,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeremy Adam Fletcher sold 2,500 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $335.00, for a total transaction of $837,500.00. Following the completion of the transaction, the senior vice president now owns 3,428 shares of the company’s stock, valued at $1,148,380. The disclosure for this sale can be found here. Insiders sold a total of 20,026 shares of company stock valued at $6,889,478 over the last 90 days. Company insiders own 3.12% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Wealth Management Inc. bought a new position in shares of O’Reilly Automotive in the 3rd quarter worth about $414,000. TIAA CREF Investment Management LLC increased its stake in shares of O’Reilly Automotive by 39.6% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 310,736 shares of the specialty retailer’s stock worth $107,925,000 after acquiring an additional 88,110 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of O’Reilly Automotive by 532.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 61,003 shares of the specialty retailer’s stock worth $21,188,000 after acquiring an additional 51,363 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of O’Reilly Automotive in the 3rd quarter worth about $1,140,000. Finally, Banco de Sabadell S.A bought a new position in shares of O’Reilly Automotive in the 3rd quarter worth about $4,218,000. Institutional investors and hedge funds own 85.89% of the company’s stock.
O’Reilly Automotive Company Profile
O'Reilly Automotive, Inc, together with its subsidiaries, engages in the retail of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States. The company provides new and remanufactured automotive hard parts, such as alternators, starters, fuel pumps, water pumps, brake system components, batteries, belts, hoses, temperature controls, chassis parts, driveline parts, and engine parts; maintenance items comprising oil, antifreeze products, fluids, filters, wiper blades, lighting products, engine additives, and appearance products; and accessories, such as floor mats, seat covers, and truck accessories.
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