Wedbush Research Analysts Cut Earnings Estimates for O’Reilly Automotive, Inc. (NASDAQ:ORLY)

O’Reilly Automotive, Inc. (NASDAQ:ORLY – Get Rating) – Wedbush decreased their Q3 2022 earnings estimates for O’Reilly Automotive in a report issued on Thursday, July 28th. Wedbush analyst S. Basham now anticipates that the specialty retailer will post earnings per share of $8.54 for the quarter, down from their prior forecast of $8.99. The consensus estimate for O’Reilly Automotive’s current full-year earnings is $32.64 per share. Wedbush also issued estimates for O’Reilly Automotive’s Q4 2022 earnings at $7.10 EPS, Q1 2023 earnings at $7.95 EPS, Q2 2023 earnings at $9.83 EPS, Q3 2023 earnings at $9.39 EPS and Q4 2023 earnings at $7.85 EPS.

O’Reilly Automotive (NASDAQ:ORLY – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The specialty retailer reported $8.78 EPS for the quarter, missing the consensus estimate of $8.98 by ($0.20). The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.71 billion. O’Reilly Automotive had a negative return on equity of 2,699.29% and a net margin of 15.85%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $8.33 EPS.

Several other brokerages have also commented on ORLY. MKM Partners lifted their price objective on shares of O’Reilly Automotive from $700.00 to $770.00 and gave the stock a “buy” rating in a research report on Friday. Truist Financial reduced their target price on shares of O’Reilly Automotive from $788.00 to $770.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Morgan Stanley reduced their target price on shares of O’Reilly Automotive from $650.00 to $635.00 and set an “equal weight” rating for the company in a research note on Thursday. Bank of America upgraded shares of O’Reilly Automotive from a “neutral” rating to a “buy” rating and set a $730.00 target price for the company in a research note on Tuesday, May 10th. Finally, DA Davidson lifted their target price on shares of O’Reilly Automotive from $740.00 to $815.00 in a research note on Friday. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, O’Reilly Automotive currently has an average rating of “Moderate Buy” and an average target price of $738.46.

O’Reilly Automotive Stock Performance

Shares of ORLY stock opened at $703.59 on Friday. The firm has a market cap of $46.24 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 1.66 and a beta of 0.99. O’Reilly Automotive has a 52 week low of $562.90 and a 52 week high of $748.68. The firm’s 50-day simple moving average is $641.35 and its two-hundred day simple moving average is $658.61.

Institutional Investors Weigh In On O’Reilly Automotive

A number of hedge funds have recently made changes to their positions in ORLY. Lloyd Advisory Services LLC. bought a new stake in shares of O’Reilly Automotive in the 1st quarter worth approximately $26,000. Riverview Trust Co bought a new stake in O’Reilly Automotive during the 1st quarter valued at $27,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in O’Reilly Automotive during the 4th quarter valued at $28,000. Atlas Capital Advisors LLC bought a new stake in O’Reilly Automotive during the 4th quarter valued at $30,000. Finally, Heritage Financial Services LLC bought a new stake in O’Reilly Automotive during the 2nd quarter valued at $34,000. 82.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Jeffrey Lynn Groves purchased 175 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was acquired at an average price of $572.77 per share, with a total value of $100,234.75. Following the purchase, the senior vice president now directly owns 721 shares in the company, valued at $412,967.17. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Jeffrey Lynn Groves purchased 175 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was acquired at an average price of $572.77 per share, with a total value of $100,234.75. Following the purchase, the senior vice president now directly owns 721 shares in the company, valued at $412,967.17. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeremy Adam Fletcher purchased 835 shares of the business’s stock in a transaction on Friday, May 20th. The stock was bought at an average cost of $600.00 per share, with a total value of $501,000.00. Following the purchase, the chief financial officer now owns 1,897 shares in the company, valued at $1,138,200. The disclosure for this purchase can be found here. Corporate insiders own 1.73% of the company’s stock.

O’Reilly Automotive Company Profile

(Get Rating)

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. 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.

Featured Stories

Want More Great Investing Ideas?

Receive News & Ratings for O’Reilly Automotive Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for O’Reilly Automotive and related companies with MarketBeat.com’s FREE daily email newsletter.