O’Reilly Automotive (NASDAQ:ORLY) Issues 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 earnings per share 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group increased their price target on O’Reilly Automotive from $1,125.00 to $1,275.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Mizuho started coverage on O’Reilly Automotive in a research report on Tuesday, March 19th. They set a buy rating and a $1,225.00 price target on the stock. The Goldman Sachs Group increased their price objective on O’Reilly Automotive from $1,022.00 to $1,170.00 and gave the company a buy rating in a research report on Friday, February 9th. Evercore ISI decreased their price objective on O’Reilly Automotive from $1,220.00 to $1,200.00 and set an outperform rating on the stock in a research report on Friday. Finally, Wells Fargo & Company cut their price target on O’Reilly Automotive from $1,300.00 to $1,200.00 and set an overweight rating on the stock 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. According to MarketBeat.com, O’Reilly Automotive presently has a consensus rating of Moderate Buy and an average target price of $1,106.31.

O’Reilly Automotive Price Performance

ORLY stock traded down $10.20 during trading hours on Friday, reaching $1,043.93. 335,739 shares of the stock were exchanged, compared to its average volume of 330,021. The firm’s 50-day moving average is $1,097.20 and its 200-day moving average is $1,015.51. The company has a market cap of $61.62 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.93 and a beta of 0.86. O’Reilly Automotive has a 12 month low of $860.10 and a 12 month high of $1,169.11.

O’Reilly Automotive (NASDAQ:ORLY) last released its earnings results on Thursday, April 25th. The specialty retailer reported $9.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.18 by $0.02. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.99 billion. O’Reilly Automotive had a negative return on equity of 145.86% and a net margin of 14.78%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.28 EPS. As a group, equities research analysts forecast that O’Reilly Automotive will post 41.7 earnings per share for the current year.

Insider Activity

In related news, CFO Jeremy Adam Fletcher sold 5,000 shares of O’Reilly Automotive stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $1,028.00, for a total transaction of $5,140,000.00. Following the completion of the transaction, the chief financial officer now owns 2,335 shares in the company, valued at $2,400,380. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other O’Reilly Automotive news, CFO Jeremy Adam Fletcher sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $1,028.00, for a total transaction of $5,140,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,335 shares in the company, valued at $2,400,380. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Raymond Murphy sold 269 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $1,039.28, for a total transaction of $279,566.32. Following the sale, the director now owns 950 shares of the company’s stock, valued at $987,316. The disclosure for this sale can be found here. Insiders sold 25,968 shares of company stock worth $27,269,333 in the last quarter. Corporate insiders own 1.55% 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.