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Wells Fargo analyst Zachary Fadem maintained a Buy rating on O’Reilly Auto (NASDAQ: ORLY) today and set a price target of $345. The company’s shares opened today at $315.67, close to its 52-week high of $316.57.
Fadem wrote:
“We believe the industry backdrop remains favorable and see opportunity for share gains via ORLY’s diverse go- to-market strategy (58% DIY, 42% Pro), best-in-class operating model (hub-and-spoke distribution network, Pro initiatives, etc.), growing store base and opportunities from digital initiatives and potential international expansion. Key takes from today include: ORLY’s untapped domestic markets can support ~200 annual new stores; Omnichannel investments are ramping; and the DIFM industry remains highly fragmented, with 50%+ market share controlled by independents. While shares have rallied 21% over the past 3 months (vs. +7% SPX), NTM P/E remains 12%/11% below 3/5 year averages and we believe continued execution can drive shares higher.”
According to TipRanks.com, Fadem is a 4-star analyst with an average return of 10.7% and a 70.3% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Floor & Decor Holdings Inc, and Advance Auto Parts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for O’Reilly Auto with a $330.44 average price target, representing a 4.7% upside. 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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The company has a one-year high of $316.57 and a one-year low of $186.82. Currently, O’Reilly Auto has an average volume of 683.8K.
Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock.
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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.
