O’Reilly Automotive (NASDAQ:ORLY) Raised to “Overweight” at Morgan Stanley

O’Reilly Automotive (NASDAQ:ORLY) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, MarketBeat Ratings reports. The firm presently has a $1,450.00 target price on the specialty retailer’s stock, up from their prior target price of $1,150.00. Morgan Stanley’s price target would suggest a potential upside of 16.81% from the company’s current price.

Several other research analysts have also commented on ORLY. Wedbush reaffirmed a “neutral” rating and issued a $1,200.00 price target on shares of O’Reilly Automotive in a report on Thursday, October 24th. TD Cowen increased their price target on O’Reilly Automotive from $1,300.00 to $1,375.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. BMO Capital Markets began coverage on O’Reilly Automotive in a research report on Friday, December 13th. They set an “outperform” rating and a $1,400.00 price objective for the company. Truist Financial increased their target price on O’Reilly Automotive from $1,290.00 to $1,313.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company increased their price objective on shares of O’Reilly Automotive from $1,250.00 to $1,325.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $1,289.44.

O’Reilly Automotive Stock Performance

Shares of ORLY stock opened at $1,241.33 on Tuesday. The stock has a market capitalization of $71.66 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.26 and a beta of 0.94. O’Reilly Automotive has a one year low of $947.49 and a one year high of $1,283.96. The company’s 50-day simple moving average is $1,223.57 and its 200-day simple moving average is $1,165.62.

O’Reilly Automotive (NASDAQ:ORLY) last issued its earnings results on Wednesday, October 23rd. The specialty retailer reported $11.41 EPS for the quarter, missing the consensus estimate of $11.53 by ($0.12). O’Reilly Automotive had a negative return on equity of 155.25% and a net margin of 14.52%. The firm had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the previous year, the business posted $10.72 EPS. O’Reilly Automotive’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that O’Reilly Automotive will post 40.85 EPS for the current year.

Insider Buying and Selling

In other news, SVP Jeffery Thomas Loafman sold 620 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,240.39, for a total transaction of $769,041.80. Following the completion of the sale, the senior vice president now directly owns 5 shares of the company’s stock, valued at $6,201.95. This represents a 99.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrea Weiss sold 600 shares of O’Reilly Automotive stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $1,224.07, for a total value of $734,442.00. Following the completion of the transaction, the director now directly owns 700 shares in the company, valued at $856,849. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On O’Reilly Automotive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its holdings in shares of O’Reilly Automotive by 7.0% during the second quarter. AE Wealth Management LLC now owns 960 shares of the specialty retailer’s stock valued at $1,014,000 after buying an additional 63 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in O’Reilly Automotive by 0.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 30,811 shares of the specialty retailer’s stock valued at $32,539,000 after acquiring an additional 172 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in shares of O’Reilly Automotive by 19,233.3% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 580 shares of the specialty retailer’s stock valued at $613,000 after purchasing an additional 577 shares during the period. DRW Securities LLC purchased a new stake in shares of O’Reilly Automotive in the second quarter worth approximately $296,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of O’Reilly Automotive by 9.5% during the second quarter. Public Sector Pension Investment Board now owns 10,195 shares of the specialty retailer’s stock worth $10,767,000 after purchasing an additional 883 shares during the period. Institutional investors and hedge funds own 85.00% of the company’s stock.

O’Reilly Automotive Company Profile

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.