O’Reilly Automotive (NASDAQ:ORLY) Updates FY24 Earnings Guidance

O’Reilly Automotive (NASDAQ:ORLY) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $41.35-41.85 for the period, compared to the consensus EPS estimate of $42.45. The company issued revenue guidance of $16.8-17.1 billion, compared to the consensus revenue estimate of $16.95 billion. O’Reilly Automotive also updated its FY 2024 guidance to 41.350-41.850 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of O’Reilly Automotive from $954.00 to $986.00 and gave the stock an equal weight rating in a research report on Thursday, January 4th. Mizuho began coverage on O’Reilly Automotive in a report on Tuesday, March 19th. They set a buy rating and a $1,225.00 price objective for the company. Royal Bank of Canada boosted their target price on O’Reilly Automotive from $1,003.00 to $1,078.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Truist Financial increased their price target on O’Reilly Automotive from $1,149.00 to $1,234.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Finally, StockNews.com upgraded O’Reilly Automotive from a hold rating to a buy rating in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $1,115.19.

O’Reilly Automotive Price Performance

ORLY traded up $0.35 during trading on Wednesday, reaching $1,092.70. 461,373 shares of the company’s stock were exchanged, compared to its average volume of 366,307. O’Reilly Automotive has a 1 year low of $860.10 and a 1 year high of $1,169.11. The company’s fifty day simple moving average is $1,097.21 and its 200-day simple moving average is $1,014.34. The stock has a market capitalization of $64.50 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86.

O’Reilly Automotive (NASDAQ:ORLY) last issued its earnings results on Thursday, February 8th. The specialty retailer reported $9.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.07 by $0.19. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.86 billion. O’Reilly Automotive had a net margin of 14.84% and a negative return on equity of 139.01%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $8.37 earnings per share. Equities analysts forecast that O’Reilly Automotive will post 42.1 EPS for the current year.

Insider Buying and Selling

In other news, EVP Doug D. Bragg sold 1,218 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $1,063.54, for a total transaction of $1,295,391.72. Following the sale, the executive vice president now owns 5,533 shares of the company’s stock, valued at approximately $5,884,566.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Doug D. Bragg sold 1,218 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $1,063.54, for a total transaction of $1,295,391.72. Following the sale, the executive vice president now directly owns 5,533 shares in the company, valued at approximately $5,884,566.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Adam Fletcher sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $1,028.00, for a total value of $5,140,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,335 shares of the company’s stock, valued at approximately $2,400,380. The disclosure for this sale can be found here. Insiders have sold a total of 25,968 shares of company stock valued at $27,269,333 over the last ninety days. Company insiders own 1.18% 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.