O'Reilly Automotive (NASDAQ:ORLY) Hits New 52-Week High - Here's What Happened

Shares of O'Reilly Automotive, Inc. (NASDAQ:ORLY - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $1,450.00 and last traded at $1,432.58, with a volume of 505719 shares traded. The stock had previously closed at $1,408.55.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ORLY shares. Wells Fargo & Company increased their target price on shares of O'Reilly Automotive from $1,325.00 to $1,425.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Morgan Stanley raised O'Reilly Automotive from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $1,150.00 to $1,450.00 in a research report on Tuesday, January 21st. Mizuho increased their price target on O'Reilly Automotive from $1,305.00 to $1,400.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. BMO Capital Markets lifted their price objective on O'Reilly Automotive from $1,400.00 to $1,450.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Finally, Wedbush upped their price objective on shares of O'Reilly Automotive from $1,200.00 to $1,350.00 and gave the company a "neutral" rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, O'Reilly Automotive currently has a consensus rating of "Buy" and an average price target of $1,390.81.

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O'Reilly Automotive Price Performance

The stock has a market cap of $79.56 billion, a P/E ratio of 34.18, a PEG ratio of 2.34 and a beta of 0.91. The firm's fifty day moving average price is $1,341.01 and its two-hundred day moving average price is $1,250.76.

Shares of O'Reilly Automotive are set to split before the market opens on Tuesday, June 10th. The 15-1 split was announced on Thursday, March 13th. The newly minted shares will be payable to shareholders after the market closes on Monday, June 9th.

O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) last announced its earnings results on Wednesday, February 5th. The specialty retailer reported $9.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.73 by $0.23. O'Reilly Automotive had a net margin of 14.28% and a negative return on equity of 166.88%. On average, research analysts expect that O'Reilly Automotive, Inc. will post 43.94 earnings per share for the current fiscal year.

Insider Activity at O'Reilly Automotive

In related news, Chairman Gregory L. Henslee sold 3,073 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $1,315.15, for a total transaction of $4,041,455.95. Following the transaction, the chairman now owns 11,397 shares of the company's stock, valued at approximately $14,988,764.55. This trade represents a 21.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brad W. Beckham sold 833 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $1,300.00, for a total transaction of $1,082,900.00. Following the completion of the sale, the chief executive officer now directly owns 760 shares of the company's stock, valued at $988,000. This represents a 52.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,894 shares of company stock valued at $10,409,618. Corporate insiders own 1.55% of the company's stock.

Hedge Funds Weigh In On O'Reilly Automotive

Several institutional investors and hedge funds have recently bought and sold shares of ORLY. Versant Capital Management Inc boosted its stake in shares of O'Reilly Automotive by 41.6% during the first quarter. Versant Capital Management Inc now owns 313 shares of the specialty retailer's stock valued at $448,000 after purchasing an additional 92 shares during the period. Marcum Wealth LLC grew its holdings in O'Reilly Automotive by 4.0% in the 1st quarter. Marcum Wealth LLC now owns 210 shares of the specialty retailer's stock worth $301,000 after acquiring an additional 8 shares during the last quarter. 111 Capital purchased a new position in shares of O'Reilly Automotive in the fourth quarter valued at about $1,092,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of O'Reilly Automotive during the fourth quarter worth about $40,993,000. Finally, Castle Rock Wealth Management LLC bought a new stake in shares of O'Reilly Automotive in the fourth quarter worth about $189,000. 85.00% of the stock is currently owned by institutional investors.

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.