O’Reilly Auto stock sets another 52-week low

While it climbed the latest Fortune 500, O’Reilly Automotive Inc.’s (Nasdaq: ORLY) share prices are on a downward trend.

The Springfield-based auto parts retailer’s stock hit a new 52-week low of $228.69 on Friday. That’s the fifth new low since dropping to $234.14 on May 23, a decrease of 2.3 percent.

O’Reilly Automotive shares recovered slightly on June 9 to close at $232.84 and moved up as high as $236.81 this morning. The company’s 52-week high is $292.84.

Stock lows for the company have followed heavy trading. Recent sales include 16,140 shares sold by global investment management firm Henderson Group and 4,400 by New Century Investment Management Inc., as well as insider filings.

However, an article posted on Nasdaq.com suggests O’Reilly Automotive shares have become oversold, meaning buyers could start looking at the lower stock price and choose to invest.

In the first quarter, O’Reilly reported earnings of $264.9 million, a 3.8 percent increase.

For the year, O’Reilly Auto officials are projecting $9.1 billion to $9.3 billion in revenue and diluted share earnings of $12.05 to $12.15.