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Oppenheimer analyst Brian Nagel reiterated a Buy rating on O’Reilly Auto (NASDAQ: ORLY) today and set a price target of $360. The company’s shares closed yesterday at $315.67, close to its 52-week high of $316.57.
Nagel wrote:
“For a long while, we have highlighted Outperform-rated O’Reilly Auto (ORLY) as the best-run and most optimally-positioned chain amongst leading auto parts retailers. ORLY shares have bounced meaningfully from mid-2017 lows and recently crossed through our prior price objective. We recently attended a meeting with O’Reilly Auto senior management at the company’s distribution center in Greensboro, NC, and spent time reviewing our positive stance on the company and the overall sector. We conclude that recovery is solidly underway at ORLY, and that the market continues to under-appreciate the near- and longer-term earnings power of the chain. Our new 12-18 month price target of $360 (up from $305) suggests upside potential of about +15% from current levels.”
According to TipRanks.com, Nagel is a 5-star analyst with an average return of 8.4% and a 65.3% success rate. Nagel covers the Services sector, focusing on stocks such as Restoration Hardware Holdings Inc, Dick’s Sporting Goods, and Advance Auto Parts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for O’Reilly Auto with a $333.40 average price target, which is a 5.6% upside from current levels. In a report issued on July 26, UBS also maintained a Buy rating on the stock with a $340 price target.
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Based on O’Reilly Auto’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $353 million. In comparison, last year the company had a net profit of $283 million.
Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
O’Reilly Automotive, Inc. owns and operates retail outlets in the United States. It engages in the distribution and retailing of automotive aftermarket parts, tools, supplies, equipment, and accessories in the U.S., serving both professional installers and do-it-yourself customers.
