O'Reilly stock hits rough patch

Following news last week that O'Reilly Automotive Inc. had lowered its second-quarter comparable store sales and earnings per share projections, the company's stock prices took a dive.

O'Reilly (Nasdaq: ORLY) announced its decreased projections after the market closed June 26. On that day, O'Reilly shares closed at $96.44, near its 52-week high of $107.13. On June 27, the company's shares opened at $77.60 and were trading as low as $75.61 before closing at $82.61. The company's shares opened at $82.11 on June 28 and closed at $81.34, and on June 29, share prices increased to a high of $85.06 before closing at $83.77.

As of 12:06 p.m., O'Reilly shares were trading at $83.74. The company's 52-week low is $56.25.

The company, which operated 3,809 stores in 39 states as of March 31, plans to release its second-quarter financial results July 25. Last week, company officials lowered O'Reilly's second-quarter comparable store sales projections to 2 percent to 2.5 percent from 3 percent to 5 percent, and said its earnings per share would likely be on the lower end of a previously announced range of $1.13 to 1.17.