Jeff Shaheen’s investment firm, WG Shaheen & Associates DBA Whitney & Co, recently reported a new position in O’Reilly Automotive, Inc., following its 13F filing with the Securities and Exchange Commission. The fund acquired 244 shares worth approximately $206,000 in the specialty retailer’s stock in the fourth quarter of last year.
O’Reilly Automotive is known for its distribution and retail operations in the United States, serving both professional installers and do-it-yourself customers. They specialize in providing auto parts such as alternators, starters, brake system components, batteries and more, including remanufactured parts as well as tools, supplies, equipment and accessories.
Several stock market analysts recently rated O’Reilly’s Automotive shares highly; Oppenheimer boosted their price objective on shares of O’Reilly Automotive from $800.00 to $890.00 while giving them an “outperform” rating in a report on February 10th. Truist Financial gave them a “buy” rating, upping their price objective from $892.00 to $921.00 also on February 10th. Stephen recently rated the company with an “overweight” rating with shares priced at $900 per share and issued a positive comment on O’reilly automotive’s future trends recently.
StockNews.com even assumed coverage on O’Reilly Automotive shares four days earlier than this report was filed — on March 16 — saying it was one of today’s hottest buys in related industries across the U.S. due to a strong outlook for growth over time according to their analysis. Finally, Roth Capital reiterated a “buy” rating on shares of the specialty retailer, which has been known for a slow market off the blocks on Wednesday, February 8th, which has caused little controversy in larger businesses investing their money, legal or otherwise. .
In conclusion, O’Reilly Automotive Inc, with its positive trajectory and abundance of opportunities appealing to customers/businessmen, could be one of the best performing companies in the market for the next decade. Therefore, it is not shocking that experienced investors like Jeff Shaheen are attracted to this company for a long-term investment plan. Their confidence in investing in O’Reilly Automotive stock shows how profitable the future trade will be.
Institutional investors are showing increasing interest in shares of O’Reilly Automotive, Inc
O’Reilly Automotive, Inc. recently saw a spike in interest from institutional investors as several hedge funds made changes to their positions in the company during the first quarter. Cibc World Market Inc., for example, increased its holdings in O’Reilly Automotive by an impressive 305.4%, buying an additional 2,434 shares worth $2.2 million. Similarly, Sei Investments Co. grew its stake in the company by 51.3%, owning 15,850 shares valued at $10.9 million after adding an additional 5,376 shares to its portfolio in Q1.
Other notable investors that have bought stakes include Prudential PLC and Cetera Investment Advisers, which raised their stakes in the specialty retailer in Q1 by $1.8 million and $1.34 million, respectively. Moors & Cabot Inc also grew its stake in O’Reilly Automotive by 11.4% during the same period.
According to reports, these institutional investors now own around 90.50% of the company’s shares.
In other O’Reilly Automotive news, SVP Jeffrey Alan Lauro sold nearly $658,600 worth of stock as part of a recent transaction on April 14th of this year. In a legal filing with the Securities and Exchange Commission (SEC), it was revealed that after this transaction, Lauro only owns 773 shares of the company’s stock, valued at $687,970.
O’Reilly Automotive is a leading player in the auto parts retail industry based out of the US and operates stores across the country serving both professional installers and do-it-yourself customers. The company retails automotive parts and supplies such as new and remanufactured automotive hard parts such as alternators, fuel pumps, etc. along with maintenance items consisting of oil change products and engine additives among other things .
Shares of NASDAQ ORLY saw moderate gains last Friday, trading up $2.44, reaching $907.80 per share. The stock experienced 107,452 trades, which was higher than its average volume of 435,993. O’Reilly Automotive currently has a market cap of $56.13 billion and a PE ratio of 27.03 along with a high P/E/G ratio. indicating strong future revenue growth potential.
In its latest quarterly earnings report on Feb. 8, the company posted earnings per share of $8.37, beating analysts’ estimates by $0.66, while net margins rose to 15% year-over-year. For the current year, experts forecast that O’Reilly Automotive will post earnings per share of $36.62, compared to the prior year’s results, where it posted earnings per share of around $7.64.
Given the increase in investor interest and increased support from institutional investors, O’Reilly Automotive appears poised for steady growth over the long term and remains an extremely attractive stock in the auto parts retail sector for many years to come.