O’Reilly Automotive (NASDAQ:ORLY) Upgraded by Morgan Stanley to Overweight Rating

O’Reilly Automotive (NASDAQ:ORLY) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday, MarketBeat reports. The firm presently has a $1,450.00 price objective on the specialty retailer’s stock, up from their previous price objective of $1,150.00. Morgan Stanley’s price target indicates a potential upside of 16.81% from the company’s previous close.

Several other research firms have also recently weighed in on ORLY. Royal Bank of Canada increased their price objective on O’Reilly Automotive from $1,115.00 to $1,286.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Wells Fargo & Company raised their price target on shares of O’Reilly Automotive from $1,250.00 to $1,325.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of O’Reilly Automotive from $1,125.00 to $1,300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Truist Financial lifted their target price on O’Reilly Automotive from $1,290.00 to $1,313.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Roth Capital raised O’Reilly Automotive to a “strong-buy” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, O’Reilly Automotive currently has an average rating of “Buy” and an average target price of $1,289.44.

O’Reilly Automotive Stock Performance

Shares of ORLY stock opened at $1,241.33 on Tuesday. The company has a market capitalization of $71.66 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 2.26 and a beta of 0.94. The stock’s 50 day simple moving average is $1,223.57 and its 200 day simple moving average is $1,165.62. O’Reilly Automotive has a twelve month low of $947.49 and a twelve month high of $1,283.96.

O’Reilly Automotive (NASDAQ:ORLY) last posted its quarterly earnings data on Wednesday, October 23rd. The specialty retailer reported $11.41 earnings per share for the quarter, missing the consensus estimate of $11.53 by ($0.12). The business had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.42 billion. O’Reilly Automotive had a negative return on equity of 155.25% and a net margin of 14.52%. O’Reilly Automotive’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $10.72 EPS. On average, analysts forecast that O’Reilly Automotive will post 40.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jeffery Thomas Loafman sold 620 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,240.39, for a total transaction of $769,041.80. Following the completion of the sale, the senior vice president now directly owns 5 shares of the company’s stock, valued at $6,201.95. This trade represents a 99.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrea Weiss sold 600 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $1,224.07, for a total value of $734,442.00. Following the completion of the transaction, the director now directly owns 700 shares in the company, valued at approximately $856,849. This represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On O’Reilly Automotive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC bought a new stake in shares of O’Reilly Automotive during the fourth quarter valued at approximately $30,000. Darwin Wealth Management LLC bought a new position in O’Reilly Automotive in the 3rd quarter valued at $32,000. Trifecta Capital Advisors LLC increased its stake in shares of O’Reilly Automotive by 383.3% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 29 shares of the specialty retailer’s stock valued at $33,000 after buying an additional 23 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of O’Reilly Automotive during the third quarter worth $37,000. Finally, Princeton Global Asset Management LLC acquired a new position in shares of O’Reilly Automotive during the third quarter valued at $41,000. Institutional investors and hedge funds own 85.00% 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.