Summit Asset Management LLC Buys 6,944 Shares of O’Reilly Automotive, Inc. $ORLY

Summit Asset Management LLC lifted its stake in shares of O’Reilly Automotive, Inc. (NASDAQ:ORLY) by 1,400.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 7,440 shares of the specialty retailer’s stock after buying an additional 6,944 shares during the period. Summit Asset Management LLC’s holdings in O’Reilly Automotive were worth $671,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Allworth Financial LP lifted its stake in O’Reilly Automotive by 14.4% during the 1st quarter. Allworth Financial LP now owns 636 shares of the specialty retailer’s stock valued at $860,000 after acquiring an additional 80 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of O’Reilly Automotive by 52.8% in the 1st quarter. Alps Advisors Inc. now owns 443 shares of the specialty retailer’s stock worth $635,000 after acquiring an additional 153 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of O’Reilly Automotive by 7.5% in the first quarter. Cerity Partners LLC now owns 15,201 shares of the specialty retailer’s stock valued at $21,778,000 after purchasing an additional 1,054 shares during the last quarter. Diversify Wealth Management LLC bought a new position in shares of O’Reilly Automotive during the first quarter valued at about $208,000. Finally, IFC Advisors LLC lifted its position in shares of O’Reilly Automotive by 19.3% during the first quarter. IFC Advisors LLC now owns 377 shares of the specialty retailer’s stock valued at $540,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 85.00% of the company’s stock.

O’Reilly Automotive Stock Up 2.2%

ORLY opened at $97.09 on Friday. O’Reilly Automotive, Inc. has a twelve month low of $78.30 and a twelve month high of $108.71. The company’s 50-day moving average price is $101.93 and its two-hundred day moving average price is $96.91. The stock has a market cap of $82.38 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 2.48 and a beta of 0.57.

O’Reilly Automotive (NASDAQ:ORLY) last posted its quarterly earnings results on Wednesday, October 22nd. The specialty retailer reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. O’Reilly Automotive had a net margin of 14.23% and a negative return on equity of 206.86%. The company had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.69 billion. During the same quarter in the previous year, the firm posted $11.41 EPS. O’Reilly Automotive’s revenue was up 7.8% on a year-over-year basis. O’Reilly Automotive has set its FY 2025 guidance at 2.900-3.000 EPS. As a group, sell-side analysts anticipate that O’Reilly Automotive, Inc. will post 43.94 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on ORLY. Morgan Stanley upped their price objective on shares of O’Reilly Automotive from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Mizuho set a $112.00 target price on O’Reilly Automotive in a research note on Monday, October 20th. The Goldman Sachs Group set a $121.00 target price on O’Reilly Automotive and gave the company a “buy” rating in a report on Friday, October 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of O’Reilly Automotive in a research report on Friday, October 31st. Finally, Wells Fargo & Company set a $115.00 price target on O’Reilly Automotive and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Nineteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $111.89.

Insiders Place Their Bets

In related news, Director Maria Sastre sold 595 shares of O’Reilly Automotive stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $102.31, for a total value of $60,874.45. Following the completion of the sale, the director owned 15,935 shares of the company’s stock, valued at approximately $1,630,309.85. This trade represents a 3.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Carl David Wilbanks sold 88,485 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $102.54, for a total value of $9,073,251.90. Following the completion of the sale, the senior vice president owned 10,305 shares in the company, valued at $1,056,674.70. This represents a 89.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 92,205 shares of company stock valued at $9,423,501 over the last ninety days. 1.01% of the stock is currently owned by insiders.

O’Reilly Automotive 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.