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O'Reilly Automotive, Inc. (NASDAQ:ORLY), with its robust market capitalization of $74 billion, has reached an impressive milestone, with its stock price soaring to an all-time high of $1284.02. This peak reflects a significant uptrend in the company's market performance, marking a substantial 22.6% increase over the past year, supported by a steady revenue growth of 5.25%. Investors and market analysts are closely monitoring O'Reilly's financial health and growth prospects, as the company continues to outperform expectations and solidify its position within the competitive automotive aftermarket industry. According to InvestingPro analysis, the company maintains a GOOD financial health score, though it currently trades above its Fair Value. The 52-week high serves as a testament to the company's robust business strategy and the strong demand for automotive parts and services. For deeper insights into O'Reilly's valuation and 12 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, O'Reilly Automotive revealed Q3 earnings per share (EPS) of $10.55, slightly missing estimates, and adjusted its 2024 guidance downward, expecting EPS between $40.60 and $41.10. The company also announced a $2 billion increase in its share repurchase program, raising the total authorization to $27.75 billion.
Several analyst firms have adjusted their outlook on O'Reilly. RBC Capital increased the price target to $1,416, maintaining an Outperform rating. Guggenheim raised its stock target to $1,400, maintaining a buy rating, while Truist Securities kept its buy rating with a $1,313 target. Morgan Stanley (NYSE:MS) upgraded the company's stock to Overweight due to a positive turn in the business cycle and a robust long-term outlook. TD Cowen also increased its price target on O'Reilly Automotive shares to $1,400, maintaining a buy rating.
Lastly, the company is expanding its geographical footprint, having opened 47 new stores in Q3, bringing the total to 111 for the year. These are the recent developments for O'Reilly Automotive.
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