YOUR BUSINESS AUTHORITY
Springfield, MO
A new week brought a new 52-week high for O’Reilly Automotive Inc.’s (Nasdaq: ORLY) stock.
ORLY shares hit another new all-time high of $335.36 on Aug. 29, after setting a high of $334.02 on Aug. 21. This morning, the company’s stock was trading at $333.65, and the 52-week low is $190.
The stock increases come as analysts report favorable outlooks for the Springfield-based auto parts retailer.
A report from Zacks pointed to automobile and auto parts companies as major beneficiaries of the United States’ revised trade deal with Mexico. The revised North American Free Trade Agreement, according to the report, favors domestic auto companies with import tariffs placed on vehicles and their parts if manufacturers don’t purchase the majority of their supplies from the NAFTA region.
Reuters data from Aug. 28 show analysts gave a 65 percent “buy” recommendation for O’Reilly Auto’s stock. Zacks on Aug. 27 also issued a “buy” rating.
O’Reilly Auto’s climbing stock has been met with trades by executives and board members of the company.
Most recently, Chairman David O’Reilly sold 3,839 shares for $1.3 million, following an Aug. 24 share sale of 1,161 shares for $384,294, according to a filing with the U.S. Securities and Exchange Commission.
The board chairman has made trades valued at more than $15 million this month.
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