O’Reilly Automotive (NASDAQ:ORLY) Sets New 12-Month High – Should You Buy?

O’Reilly Automotive, Inc. (NASDAQ:ORLY)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $1,312.79 and last traded at $1,305.24, with a volume of 60987 shares traded. The stock had previously closed at $1,294.42.

Wall Street Analyst Weigh In

ORLY has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of O’Reilly Automotive from $1,125.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Truist Financial boosted their target price on shares of 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. DA Davidson reissued a “buy” rating and set a $1,275.00 target price on shares of O’Reilly Automotive in a research report on Thursday, October 24th. Evercore ISI boosted their target price on shares of O’Reilly Automotive from $1,315.00 to $1,325.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their target price on shares of O’Reilly Automotive from $1,325.00 to $1,425.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $1,301.82.

O’Reilly Automotive Stock Performance

The firm’s 50 day moving average is $1,233.49 and its 200-day moving average is $1,179.29. The stock has a market capitalization of $75.77 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.40 and a beta of 0.94.

Insider Activity at O’Reilly Automotive

In other O’Reilly Automotive news, SVP Jeffery Thomas Loafman sold 620 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,240.39, for a total transaction of $769,041.80. Following the completion of the transaction, the senior vice president now directly owns 5 shares in the company, valued at approximately $6,201.95. This represents a 99.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea Weiss sold 600 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $1,224.07, for a total transaction of $734,442.00. Following the transaction, the director now owns 700 shares of the company’s stock, valued at $856,849. This represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On O’Reilly Automotive

A number of large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in O’Reilly Automotive by 73.0% during the third quarter. Wellington Management Group LLP now owns 1,725,316 shares of the specialty retailer’s stock worth $1,986,874,000 after acquiring an additional 728,040 shares during the period. Geode Capital Management LLC grew its holdings in shares of O’Reilly Automotive by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,479,166 shares of the specialty retailer’s stock worth $1,700,513,000 after buying an additional 24,135 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of O’Reilly Automotive by 99,957.0% during the third quarter. International Assets Investment Management LLC now owns 854,487 shares of the specialty retailer’s stock worth $984,027,000 after buying an additional 853,633 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of O’Reilly Automotive by 28.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 601,612 shares of the specialty retailer’s stock worth $692,816,000 after buying an additional 133,139 shares in the last quarter. Finally, Mizuho Securities USA LLC grew its holdings in shares of O’Reilly Automotive by 10,626.8% during the third quarter. Mizuho Securities USA LLC now owns 487,212 shares of the specialty retailer’s stock worth $5,393,000 after buying an additional 482,670 shares in the last quarter. 85.00% of the stock is currently owned by institutional investors and hedge funds.

About O’Reilly Automotive

O’Reilly Automotive, Inc, together with its subsidiaries, 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.