JPMorgan Chase – O’Reilly Automotive, Inc. (NASDAQ:ORLY) Given Average Recommendation of “Buy” by Brokerages
Shares of O’Reilly Automotive, Inc. (NASDAQ:ORLY) have received a consensus rating of “Buy” from the twenty-three ratings firms that are currently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $480.14.
A number of research analysts have recently weighed in on ORLY shares. Oppenheimer upgraded O’Reilly Automotive from a “market perform” rating to an “outperform” rating and set a $550.00 price target on the stock in a report on Tuesday, November 24th. They noted that the move was a valuation call. Royal Bank of Canada lifted their price objective on O’Reilly Automotive from $541.00 to $560.00 in a research report on Tuesday, October 20th. Raymond James raised O’Reilly Automotive from a “market perform” rating to an “outperform” rating and set a $550.00 price objective for the company in a research report on Monday, October 19th. Finally, Wedbush reduced their price objective on O’Reilly Automotive from $490.00 to $460.00 and set a “neutral” rating for the company in a research report on Thursday, October 29th.
Shares of ORLY stock opened at $448.29 on Monday. O’Reilly Automotive has a 1-year low of $251.51 and a 1-year high of $496.61. The company has a current ratio of 0.98, a quick ratio of 0.35 and a debt-to-equity ratio of 5.81. The company has a market capitalization of $32.48 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.44 and a beta of 0.98. The stock’s fifty day simple moving average is $457.70 and its 200-day simple moving average is $457.51.
O’Reilly Automotive announced that its board has authorized a stock repurchase plan on Wednesday, October 28th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, Chairman David E. Oreilly sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $450.56, for a total value of $9,011,200.00. Following the transaction, the chairman now directly owns 107,404 shares of the company’s stock, valued at approximately $48,391,946.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Raymond Murphy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $452.34, for a total value of $90,468.00. The disclosure for this sale can be found here. Corporate insiders own 2.43% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of O’Reilly Automotive by 0.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,806,742 shares of the specialty retailer’s stock worth $1,725,673,000 after acquiring an additional 20,450 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in O’Reilly Automotive by 5.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 315,603 shares of the specialty retailer’s stock worth $145,518,000 after buying an additional 16,947 shares in the last quarter. California Public Employees Retirement System lifted its holdings in O’Reilly Automotive by 1.7% during the 4th quarter. California Public Employees Retirement System now owns 274,919 shares of the specialty retailer’s stock worth $124,420,000 after buying an additional 4,580 shares in the last quarter. Maj Invest Holding A S lifted its stake in shares of O’Reilly Automotive by 52.9% in the 4th quarter. Maj Invest Holding A S now owns 250,464 shares of the specialty retailer’s stock valued at $113,354,000 after purchasing an additional 86,660 shares during the period. Finally, Vantage Investment Partners LLC lifted its stake in shares of O’Reilly Automotive by 6.1% in the 3rd quarter. Vantage Investment Partners LLC now owns 231,746 shares of the specialty retailer’s stock valued at $106,853,000 after purchasing an additional 13,247 shares during the period. 82.00% of the stock is currently owned by institutional investors and hedge funds.
About O’Reilly Automotive
O’Reilly Automotive, Inc, together with its subsidiaries, engages in the retail of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States. 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, lighting products, appearance products, engine additives, filters, fluids, and oil and wiper blades; and accessories, such as floor mats, seat covers, and truck accessories.
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