O’Reilly Automotive, Inc. (NASDAQ: ORLY) shares rose on Wednesday January 18 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile, in early trade today, the S&P 500 SPX, +0.00% was off 2 points, or 0.1%, at 2,265, shortly after open. The Nasdaq Composite COMP, +0.20% was flat at 5,537. The Dow Jones Industrial Average DJIA, -0.20% slipped 54 points or 0.3%, to 19,770.
O’Reilly Automotive, Inc. (NASDAQ: ORLY) had its price target boosted by equities researchers at Deutsche Bank AG from $0.00 to $315.00. The company currently has a rating of on the shares. The one-year price target of $305.36 is above the opening price of $280.16, that has caused a number of other analysts to comment on the stock in recent days. Looking back over the last 52 weeks, O’Reilly Automotive, Inc. stock has a high of $292.84.
Yesterday O’Reilly Automotive, Inc. (NASDAQ: ORLY) shares last traded at $279.78, which is a spike of $1.02 over the previous closing price. Opening at $280.16, they varied from $278.95 and $280.53 throughout the day.
O’Reilly Automotive, Inc. (NASDAQ: ORLY) now has a market cap of 26.43B.
O’Reilly Automotive, Inc. (NASDAQ: ORLY) Average Daily Trading Volume
The stock’s average daily volume is 820,042 shares out of a total float 92,444,000 and some 73,282 shares traded hands yesterday, 97 percent lower than the average. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
O’Reilly Automotive, Inc. (NASDAQ: ORLY) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for O’Reilly Automotive, Inc. (NASDAQ: ORLY) have ranged from $225.12 – 292.84, and the stock now has a 50-day MA of $279.89 and 200-day MA of $277.85. Today’s last price is 4.46%% under the 52 week high of $292.84.
Earnings growth is a crucial factor to look at when investing in stocks and investors seek companies that have raised their earnings at least 25% or more over 3 consecutive years.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.