Eastern Bank Takes Position in O'Reilly Automotive, Inc. (NASDAQ:ORLY)
Eastern Bank acquired a new stake in O'Reilly Automotive, Inc. (NASDAQ:ORLY) during Q3, purchasing 17,181 shares valued at approximately $2,786,000. Other institutional investors, including Vanguard Group and Principal Financial Group, also adjusted their holdings in ORLY. The stock traded down 0.30% to $205.71, with a market cap of $30.01 billion. O'Reilly reported Q2 earnings of $5.55 per share, missing estimates, with revenue of $3.27 billion, a 5% increase year-over-year. Insider transactions included sales by SVP Mark Joseph Merz and Chairman Gregory L. Henslee.
Eastern Bank purchased a new stake in shares of O'Reilly Automotive, Inc. (NASDAQ:ORLY - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,181 shares of the specialty retailer's stock, valued at approximately $19,786,000.
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A number of other institutional investors have also added to or reduced their stakes in ORLY. Vanguard Group Inc. increased its position in shares of O'Reilly Automotive by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 5,084,209 shares of the specialty retailer's stock valued at $5,739,462,000 after purchasing an additional 75,837 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in O'Reilly Automotive by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,850,655 shares of the specialty retailer's stock worth $1,954,404,000 after buying an additional 57,194 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of O'Reilly Automotive by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,425,724 shares of the specialty retailer's stock valued at $1,505,649,000 after purchasing an additional 19,211 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of O'Reilly Automotive by 56.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,045,512 shares of the specialty retailer's stock valued at $1,180,259,000 after purchasing an additional 376,167 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of O'Reilly Automotive by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 496,779 shares of the specialty retailer's stock valued at $524,629,000 after purchasing an additional 24,767 shares during the period. Hedge funds and other institutional investors own 85.00% of the company's stock.
O'Reilly Automotive Stock Performance
NASDAQ ORLY traded down $13.30 during trading on Tuesday, reaching $1,205.71. The company's stock had a trading volume of 100,388 shares, compared to its average volume of 373,133. The firm has a market cap of $71.01 billion, a price-to-earnings ratio of 30.94, a P/E/G ratio of 2.29 and a beta of 0.92. O'Reilly Automotive, Inc. has a twelve month low of $860.10 and a twelve month high of $1,221.18. The business's fifty day moving average price is $1,144.10 and its 200-day moving average price is $1,079.18.
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O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) last issued its earnings results on Wednesday, July 24th. The specialty retailer reported $10.55 earnings per share for the quarter, missing the consensus estimate of $10.98 by ($0.43). O'Reilly Automotive had a negative return on equity of 146.57% and a net margin of 14.57%. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the previous year, the company posted $10.22 earnings per share. The company's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts forecast that O'Reilly Automotive, Inc. will post 41.1 EPS for the current fiscal year.
Insider Buying and Selling at O'Reilly Automotive
In other news, SVP Mark Joseph Merz sold 413 shares of the firm's stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $1,120.00, for a total value of $462,560.00. Following the transaction, the senior vice president now owns 265 shares of the company's stock, valued at approximately $296,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Mark Joseph Merz sold 413 shares of O'Reilly Automotive stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $1,120.00, for a total transaction of $462,560.00. Following the sale, the senior vice president now owns 265 shares of the company's stock, valued at $296,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Gregory L. Henslee sold 18,264 shares of the business's stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $1,127.55, for a total transaction of $20,593,573.20. Following the transaction, the chairman now directly owns 13,347 shares of the company's stock, valued at $15,049,409.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,411 shares of company stock worth $56,846,062 in the last quarter. 1.55% of the stock is owned by insiders.
Analysts Set New Price Targets
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ORLY has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on O'Reilly Automotive from $1,250.00 to $1,325.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Truist Financial lifted their price objective on O'Reilly Automotive from $1,204.00 to $1,290.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Roth Capital upgraded O'Reilly Automotive to a "strong-buy" rating in a research report on Tuesday, October 15th. Wedbush restated a "neutral" rating and issued a $1,100.00 price objective on shares of O'Reilly Automotive in a research report on Thursday, July 25th. Finally, UBS Group lowered their price objective on O'Reilly Automotive from $1,275.00 to $1,250.00 and set a "buy" rating on the stock in a research report on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, O'Reilly Automotive presently has an average rating of "Moderate Buy" and a consensus target price of $1,206.87.
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O'Reilly Automotive Company Profile
(Free Report)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.
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