Dana Perlman, a director at O'Reilly (NASDAQ:ORLY) Automotive Inc. (NASDAQ:ORLY), has sold a portion of her holdings in the company, according to a recent SEC filing. The transaction, dated August 7, 2024, involved the sale of 48 shares of common stock at a price of $1109.76 each, totaling approximately $53,268.
This sale comes after a series of transactions in which shares were disposed of at prices ranging between $1105.52 and $1111.30, amounting to a total of $249,395. These transactions, however, were coded differently and do not represent open market sales like the most recent one.
Following the sale, Perlman's direct ownership in the company includes 1097 shares, which encompasses 173 unvested restricted share awards and 924 shares held directly by her. It's worth noting that the total ownership figure was clarified in a footnote attached to the SEC filing.
O'Reilly Automotive, a leading retailer in the auto and home supply stores industry, has been watched by investors for movements in insider transactions, as these can provide insights into the confidence levels of company executives and directors in the firm's prospects.
Investors typically monitor such filings for signs of management's perspective on the financial health and future performance of the company. The transactions reported in SEC filings can influence investor perception and, as a result, may impact the company's stock performance in the market.
For more detailed information, investors are encouraged to review the full SEC Form 4 filings.
In other recent news, O'Reilly Automotive reported second-quarter earnings per share (EPS) of $10.55, falling short of the estimated $10.83. The company's comparable sales growth of 2.3% also did not meet the consensus expectation of 3.0%. Amid these developments, Jefferies increased the company's price target from $1,225.00 to $1,260.00, while RBC Capital reduced the price target to $1,115 from $1,124, both firms maintaining their positive rating on the stock.
In response to recent market trends, O'Reilly Automotive revised its full-year 2024 guidance, anticipating EPS to be in the range of $40.75 to $41.25 and expects comparable store sales growth to be between 2% and 4%. DA Davidson and Truist Securities also adjusted their price targets for the company to $1,275 and $1,204, respectively, citing the company's ability to navigate a challenging consumer environment.
Furthermore, the company has been expanding its footprint, opening 37 new stores in the United States and Mexico, and entering the Canadian market through the acquisition of Vast Auto. O'Reilly's share repurchase program also remains active, having bought back 0.3 million shares for a total investment of $270 million. These are the recent developments at O'Reilly Automotive.
InvestingPro Insights
O'Reilly Automotive Inc. (NASDAQ:ORLY) has been exhibiting a robust performance according to the latest data from InvestingPro. With a market capitalization of $64.55 billion, the company stands as a significant player in the auto and home supply stores industry. The financial health of O'Reilly Automotive can be further understood by looking at its P/E ratio, which at 27.89 indicates a premium valuation compared to near-term earnings growth. This is further supported by a slightly lower adjusted P/E ratio of 27.28 for the last twelve months as of Q2 2024.
Despite the recent insider selling, O'Reilly Automotive's revenue growth remains positive, with a 6.99% increase over the last twelve months as of Q2 2024. The company's gross profit margin is also strong at 51.16%, reflecting efficient operations and a solid competitive position in the market. Moreover, the firm has demonstrated the ability to generate substantial operating income, with an adjusted operating income of $3.23 billion and an operating margin of 19.86% during the same period.
InvestingPro Tips suggest that while O'Reilly Automotive trades at a high revenue valuation multiple, the company has been profitable over the last twelve months and analysts predict it will remain profitable this year. Additionally, the company's stock has been known to trade with low price volatility, which might appeal to investors seeking stability in their portfolio. For those interested in further insights, there are 11 additional InvestingPro Tips available, which can be accessed at https://www.investing.com/pro/ORLY, offering a more comprehensive analysis of the company's financials and market performance.
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