Short Interest in O’Reilly Automotive, Inc. (NASDAQ:ORLY) Declines By 16.7%

O’Reilly Automotive, Inc. (NASDAQ:ORLY) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 802,700 shares, a decline of 16.7% from the February 28th total of 963,800 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily volume of 348,200 shares, the days-to-cover ratio is presently 2.3 days.

O’Reilly Automotive Trading Down 1.0 %

Shares of NASDAQ ORLY traded down $14.79 during mid-day trading on Wednesday, reaching $1,417.01. 397,352 shares of the company’s stock were exchanged, compared to its average volume of 364,041. O’Reilly Automotive has a twelve month low of $947.49 and a twelve month high of $1,450.00. The firm has a market capitalization of $81.11 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 2.34 and a beta of 0.91. The business has a fifty day simple moving average of $1,331.17 and a 200 day simple moving average of $1,246.41.

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

O’Reilly Automotive (NASDAQ:ORLY) last released its quarterly earnings results on Wednesday, February 5th. The specialty retailer reported $9.96 earnings per share for the quarter, beating 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%. Equities research analysts predict that O’Reilly Automotive will post 43.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Guggenheim reiterated a “buy” rating and issued a $1,475.00 price objective on shares of O’Reilly Automotive in a research report on Monday, March 10th. Barclays raised their price target on O’Reilly Automotive from $1,110.00 to $1,250.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. DA Davidson boosted their price objective on O’Reilly Automotive from $1,450.00 to $1,525.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company raised 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 note on Tuesday, January 28th. Finally, Morgan Stanley raised shares of O’Reilly Automotive from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $1,150.00 to $1,450.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,390.81.

Insider Buying and Selling at O’Reilly Automotive

In other O’Reilly Automotive news, Director Maria Sastre sold 248 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $1,316.17, for a total value of $326,410.16. Following the completion of the sale, the director now owns 971 shares in the company, valued at approximately $1,278,001.07. This trade represents a 20.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brad W. Beckham sold 833 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 760 shares in the company, valued at $988,000. The trade was a 52.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,894 shares of company stock worth $10,409,618. 1.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On O’Reilly Automotive

A number of large investors have recently added to or reduced their stakes in ORLY. Lee Danner & Bass Inc. bought a new position in shares of O’Reilly Automotive during the fourth quarter worth about $28,000. AlphaMark Advisors LLC bought a new position in shares of O’Reilly Automotive during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of O’Reilly Automotive in the fourth quarter worth $31,000. Kestra Investment Management LLC acquired a new position in O’Reilly Automotive during the fourth quarter worth $32,000. Finally, Investment Management Corp VA ADV bought a new position in O’Reilly Automotive in the fourth quarter valued at $37,000. Institutional investors 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.