Shares of O’Reilly Automotive hit a high of $1,275.95 by Investing.com

In an outstanding display of market resilience, shares of O’Reilly Automotive, Inc. ( NASDAQ: ) jumped to an all-time high, reaching a price level of $1,275.95. According to InvestingPro analysis, the company maintains an overall financial health rating of “GOOD”, although current valuations suggest the stock may be trading above its fair value. This milestone highlights the company’s strong performance in the dynamic automotive sector. Over the past year, O’Reilly Automotive has seen an impressive one-year turnaround, with the stock up 34.03%. With analyst price targets ranging from $870 to $1,450, and a strong gross profit margin of 51.2%, the company continues to demonstrate operational excellence. This significant growth trajectory underscores the investor confidence and market momentum the company has been able to harness, even as it navigates the challenges and opportunities in the auto parts industry. Discover more insights and 12 additional tips with a comprehensive research report, available exclusively at InvestingPro.

In other recent news, O’Reilly Automotive has been the subject of several notable developments. The company reported third-quarter earnings per share (EPS) of $10.55, slightly missing estimates, and revised its 2024 guidance downward, expecting EPS between $40.60 and $41.10. Despite these adjustments, O’Reilly Automotive posted strong comparable store sales. The company also announced a $2 billion increase in its share buyback program, bringing the total authorization to $27.75 billion.

Several analyst firms have adjusted their views on O’Reilly Automotive. BMO Capital initiated coverage with an Outperform rating and a $1,400 price target, while Roth/MKM maintained a Buy rating with a $1,337 price target. Other companies such as Mizuho (NISE:), Truist Securities, TD Coven, UBS and Jefferies also raised their targets for the company.

O’Reilly Automotive continued its expansion efforts, opening 47 new stores in Q3, bringing the total to 111 for the year. Company executives indicated a willingness to pass on tariff costs to consumers and noted a reduction in reliance on Chinese suppliers. These are part of a recent development from O’Reilly Automotive.

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