O'Reilly Automotive shares hit new 52-week high

Shares of Springfield-based O’Reilly Automotive Inc. (Nasdaq: ORLY) etched a 52-week high Monday when trading hit $156.37. The stock closed July 14 at $155.89, up 1.16 percent.

Analysts with Investor-Edge say the stock rallied 21 percent year-to-date and posted one-month gains of 4.25 percent. ORLY shares are trading above their 50-day and 200-day moving averages of $149.50 and $139.38, respectively.

A day before the new trading high, investment analysts at Zacks reiterated a neutral rating for O’Reilly Auto stock.

“O’Reilly continues to benefit from its dual-market strategy and has opened a number of new stores to boost sales. The company’s encouraging 2014 earnings guidance also adds to the positives,” analysts wrote. “However, O’Reilly’s highly concentrated store locations make it susceptible to regional economic volatility and other localized problems. The company also has high debt and inventory levels.”

In the first quarter, the automotive parts retailer beat analysts’ estimates for earnings per share and sales, posting $1.61 EPS and $1.73 billion in revenue. Analysts expect annual EPS of $7.06. Second-quarter results are expected July 23.

According to Investor’s Business Daily, the nine-member retail/wholesale auto parts group outperformed the market this year. As of July 9, companies such as O’Reilly, AutoZone and Advance Auto Parts were up 11 percent, compared to a gain of nearly 7 percent for the S&P 500.

ORLY shares today were trading at $153.66 as of 9:54 a.m. They closed July 15 at $154.25.[[In-content Ad]]