O’Reilly Automotive (NASDAQ:ORLY) Issues FY 2024 Earnings Guidance

O’Reilly Automotive (NASDAQ:ORLY) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 41.350-41.850 for the period, compared to the consensus EPS estimate of 42.400. The company issued revenue guidance of $16.8 billion-$17.1 billion, compared to the consensus revenue estimate of $17.0 billion. O’Reilly Automotive also updated its FY24 guidance to $41.35-41.85 EPS.

Analysts Set New Price Targets

Several research firms have commented on ORLY. Wedbush reaffirmed a neutral rating and set a $1,100.00 price objective on shares of O’Reilly Automotive in a research note on Thursday. Truist Financial lifted their price objective on shares of O’Reilly Automotive from $1,149.00 to $1,234.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group boosted their target price on shares of O’Reilly Automotive from $1,022.00 to $1,170.00 and gave the company a buy rating in a research note on Friday, February 9th. Royal Bank of Canada boosted their target price on shares of O’Reilly Automotive from $1,003.00 to $1,078.00 and gave the company an outperform rating in a research note on Friday, February 9th. Finally, Wells Fargo & Company lowered their target price on shares of O’Reilly Automotive from $1,300.00 to $1,200.00 and set an overweight rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $1,108.94.

O’Reilly Automotive Stock Performance

NASDAQ ORLY traded down $42.88 during trading hours on Thursday, reaching $1,049.82. The stock had a trading volume of 705,299 shares, compared to its average volume of 370,345. The stock has a fifty day moving average of $1,097.21 and a 200 day moving average of $1,014.34. The stock has a market cap of $61.97 billion, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86. O’Reilly Automotive has a 52-week low of $860.10 and a 52-week high of $1,169.11.

O’Reilly Automotive (NASDAQ:ORLY) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $9.20 EPS for the quarter, beating analysts’ consensus estimates of $9.18 by $0.02. O’Reilly Automotive had a negative return on equity of 139.01% and a net margin of 14.84%. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the firm earned $8.28 earnings per share. O’Reilly Automotive’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that O’Reilly Automotive will post 42.1 EPS for the current year.

Insiders Place Their Bets

In other O’Reilly Automotive news, Chairman David E. Oreilly sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $1,053.58, for a total value of $10,535,800.00. Following the sale, the chairman now owns 216,539 shares in the company, valued at approximately $228,141,159.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman David E. Oreilly sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $1,053.58, for a total transaction of $10,535,800.00. Following the completion of the transaction, the chairman now directly owns 216,539 shares in the company, valued at approximately $228,141,159.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Adam Fletcher sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $1,028.00, for a total value of $5,140,000.00. Following the transaction, the chief financial officer now owns 2,335 shares of the company’s stock, valued at $2,400,380. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,968 shares of company stock worth $27,269,333. Corporate insiders own 1.55% of the company’s stock.

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.