JPMorgan Analyst's Adds O'Reilly Automotive (ORLY) To 'Focus List'

NASDAQ: ORLY | O'Reilly Automotive, Inc. News, Ratings, and Charts

ORLY – Among the multiple major players in the auto parts sector, O’Reilly stands out to benefit the most from a “weather deep dive” analysis, according to JPMorgan.

Among the multiple major players in the auto parts sector, O’Reilly Automotive Inc ORLY 2.55% stands out to benefit the most from a “weather deep dive” analysis, according to JPMorgan.

The Analyst

JPMorgan’s Christopher Horvers maintains an Overweight rating on O’Reilly Automotive with a $398 price target and is now included in the firm’s “Analyst Focus List.”

The Thesis

Weather is a key factor in determining auto parts demand in terms of both “in the moment” (i.e., freezing weather prompts battery failure) and a lagged impact (repairs from salt on roads or corrosion), Horvers said in a research report. The research firm’s analysis of weather trends found the following:

  • 2019 snowfall was down year-over-year in the northeast and up in north central. Based on a geographical exposure, O’Reilly Automotive is best positioned to take advantage of the 2019 “solid but not as good as 2018” snow trends.
  • 2018 summer was “good overall,” but current forecasts call for a “relatively cooler” summer, especially in the west where O’Reilly has strong exposure.
  • O’Reilly’s favorable geographic exposure should help the company regain the “best comp crown” in the group.

Price Action

Shares of O’Reilly Automotive traded higher by 2.5 percent to $385.89 Monday.


O’Reilly Automotive Inc. shares were unchanged in after-hours trading Monday. Year-to-date, ORLY has gained 12.07%, versus a 12.14% rise in the benchmark S&P 500 index during the same period.

ORLY currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #2 of 49 stocks in the Auto Parts category.


This article is brought to you courtesy of Benzinga.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

Top Stories on StockNews.com

NYSE: TRV | The Travelers Companies, Inc. Common Stock News, Ratings, and Charts

Travelers Cos. (TRV) reports earnings, stock rallies

Travelers released quarterly earnings of $2.83 per share, beating the Zacks Consensus Estimate of $2.76 per share.
NASDAQ: INTC | Intel Corporation News, Ratings, and Charts

Why shares of Intel (INTC) might be a Buy

Intel Stock Is Ready to Rally
: gnln | Greenlane Holdings, Inc. - Class A Common Stock News, Ratings, and Charts

Greenlane Holdings (GNLN) just became the best US marijuana IPO on Nasdaq

Pulling off the feat was easier than you might think. Why?
NYSE: COP | ConocoPhillips Common Stock News, Ratings, and Charts

Should ConocoPhillips (COP) be on your list of stocks to buy?

This Oil Stock Gives Investors 1 More Great Reason to Buy.
NASDAQ: NFLX | Netflix, Inc. News, Ratings, and Charts

Should Netflix (NFLX) be on your list of stocks to buy?

Here's what the year 2024 could look like for the video streamer.

Read More Stories


More O'Reilly Automotive, Inc. (ORLY) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All ORLY News
Page generated in 1.0677 seconds.