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

O’Reilly Automotive (NASDAQ:ORLY) released its earnings results on Wednesday. The specialty retailer reported $11.41 EPS for the quarter, missing the consensus estimate of $11.53 by ($0.12), Briefing.com reports. The business had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.42 billion. O’Reilly Automotive had a net margin of 14.57% and a negative return on equity of 146.57%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $10.72 earnings per share. 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 0.0 %

NASDAQ ORLY traded down $0.53 during trading hours on Thursday, hitting $1,198.72. The company had a trading volume of 135,484 shares, compared to its average volume of 373,524. O’Reilly Automotive has a fifty-two week low of $860.10 and a fifty-two week high of $1,221.18. The business has a fifty day simple moving average of $1,147.32 and a 200-day simple moving average of $1,080.64. The firm has a market cap of $70.60 billion, a P/E ratio of 30.62, a price-to-earnings-growth ratio of 2.30 and a beta of 0.92.

Insider Activity

In related news, SVP Mark Joseph Merz sold 413 shares of O’Reilly Automotive stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $1,120.00, for a total transaction of $462,560.00. Following the sale, the senior vice president now directly owns 265 shares in the company, valued at $296,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Mark Joseph Merz sold 413 shares of O’Reilly Automotive stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $1,120.00, for a total transaction of $462,560.00. Following the sale, the senior vice president now directly owns 265 shares in the company, valued at $296,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher Andrew Mancini sold 1,557 shares of O’Reilly Automotive stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $1,125.00, for a total transaction of $1,751,625.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,411 shares of company stock valued at $56,846,062. Company insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Roth Mkm reiterated a “buy” rating and set a $1,337.00 target price on shares of O’Reilly Automotive in a research note on Wednesday, October 16th. Royal Bank of Canada reduced their price objective on O’Reilly Automotive from $1,124.00 to $1,115.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. UBS Group reduced their price objective on O’Reilly Automotive from $1,275.00 to $1,250.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Roth Capital upgraded O’Reilly Automotive to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Bank of America raised their price objective on O’Reilly Automotive from $1,204.00 to $1,290.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, O’Reilly Automotive has an average rating of “Moderate Buy” and an average target price of $1,213.53.

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.