Is It Right Time to Be Bullish on Erie Indemnity Company (NASDAQ:ERIE), O’Reilly Automotive Inc. (NASDAQ:ORLY)?

The shares of Erie Indemnity Company (NASDAQ:ERIE) has been pegged with a rating of Hold by Stifel Nicolaus in its latest research note that was published on March 08, 2010. Stifel Nicolaus wasn’t the only research firm that published a report of Erie Indemnity Company, with other equities research analysts also giving their opinion on the stock. Stifel Nicolaus advised investors in its research note published on October 10, 2008, to Buy the ERIE stock while also putting a $45 price target.

Amongst the analysts that rated the stock, 0 have recommended investors to sell it, 0 believe it has the potential for further growth, thus rating it as Hold while 1 advised investors to purchase the stock. The consensus currently stands at a Buy while its average price target is $115.00. The price of the stock the last time has raised by 10.69% from its 52-Week high price while it is -46.67% than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 43.65.

The shares of the company dipped by -5.77% during the trading session on Wednesday, reaching a low of $137.10 while ending the day at $144.12. During the trading session, a total of 671327.0 shares were traded which represents a -496.52% decline from the average session volume which is 112540.0 shares. ERIE had ended its last session trading at $152.95. Erie Indemnity Company currently has a market cap of $7.05 billion, while its P/E ratio stands at 26.58, while its P/E earnings growth sits at 2.66, with a beta of 0.02. Erie Indemnity Company debt-to-equity ratio currently stands at 0.09, while its quick ratio hovers at 1.50 ERIE 52-week low price stands at $130.20 while its 52-week high price is $270.23.

In the second quarter last year, the firm recorded $1.80 earnings per share. Compared to the same quarter last year, the firm’s revenue was down by -26.32%. Erie Indemnity Company has the potential to record 6.43 EPS for the current fiscal year, according to equities analysts.

Investment analysts at Goldman published a research note on March 18, 2020 where it informed investors and clients that O’Reilly Automotive Inc. (NASDAQ:ORLY) is now rated as Buy. Their price target on the stock stands at $357. JP Morgan also rated ORLY as Downgrade on January 31, 2020, with its price target of $415 suggesting that ORLY could surge by 29.26% from its current share price. Even though the stock has been trading at $277.13/share, analysts expect it to surge by 7.86% to reach $422.54/share. It started the day trading at $314.735 and traded between $274.93 and $298.92 throughout the trading session.

A look at its technical shows that ORLY’s 50-day SMA is 380.53 while its 200-day SMA stands at 400.33. The stock has a high of $454.31 for the year while the low is $251.51. The stock, however, witnessed a rise in its short on 03/13/20. Compared to previous close which recorded 1.1 M shorted shares, the short percentage went higher by 39.37%, as 1.53M ERIE shares were shorted. At the moment, only 1.50% of O’Reilly Automotive Inc. shares were sold short. The company’s P/E ratio currently sits at 16.71, while the P/B ratio is 56.94. The company’s average trading volume currently stands at 910.69K shares, which means that the short-interest ratio is just 1.21 days. Over the past seven days, the company moved, with its shift of 1.77%. Looking further, the stock has dropped -31.66% over the past 90 days while it lost -24.26% over the last six months.

The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. The The Vanguard Group, Inc. sold more ORLY shares, decreasing its portfolio by -0.82% during the last quarter. This move now sees The The Vanguard Group, Inc. selling -46,845 shares in the last quarter, thus it now holds 5,692,959 shares of ORLY, with a total valuation of $2,099,107,842. BlackRock Fund Advisors meanwhile sold more ORLY shares in the recently filed quarter, changing its stake to $1,525,850,747 worth of shares.

Similarly, SSgA Funds Management, Inc. decreased its O’Reilly Automotive Inc. shares by 1.26% during the recently filed quarter. After selling 3,356,011 shares in the last quarter, the firm now controls -42,902 shares of O’Reilly Automotive Inc. which are valued at $1,237,428,376. In the same vein, JPMorgan Investment Management, I… decreased its O’Reilly Automotive Inc. shares by during the most recent reported quarter. The firm sold 231,031 shares during the quarter which decreased its stakes to 2,482,856 shares and is now valued at $915,478,664. Following these latest developments, around 0.50% of O’Reilly Automotive Inc. stocks are owned by institutional investors and hedge funds.