O'Reilly Automotive Inc.
) hit new 52-week high of $113.14 on Jun 18, which is above its
previous level of $112.92, and closed at $113.09 on the same
date. The closing price represented a one-year return of 11.4%
and year-to-date return of 25.8%.
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O'Reilly Automotive, headquartered in Springfield, Mo., is the
third largest specialty retailer of automotive aftermarket parts,
tools, supplies, equipment, and accessories in the U.S., selling
products to both Do-it-Yourself (DIY) customers and Do-it-for-Me
(DIFM) or professional installers. It has a market cap of $12.4
billion. Average volume of shares traded over the last three
months stood at approximately 731.2K.
Shares of the company started escalating following its improved
first quarter results and promising guidance announced on Apr 24
as well as improving fundamentals in the automotive market.
ORLY posted a 19.3% increase in earnings to $1.36 per share in
the first quarter of 2013 compared with $1.14 in the year-ago
quarter, exceeding the Zacks Consensus Estimate by a penny. Net
income improved 5% to $154 million (9.7% of sales) from $147
million (9.6%) in the first quarter of 2012.
Revenues during the quarter scaled up 4% to $1.59 billion from
$1.53 billion in the same period a year ago. Comparable store
sales increased 1.9% compared with 6.1% in the first quarter of
2012 (both adjusted for the impact of Leap Day in 2012-quarter).
During the quarter, ORLY opened 66 stores and closed 1 store,
bringing its total store count to 4,041 in 42 states as of Mar
31, 2013. Sales per weighted average-store decreased to $391 from
$400 a year ago.
O'Reilly Automotive has projected earnings per share in the range
of $1.46-$1.50 and consolidated comparable store sales to
increase in a band of 4% to 6% for the second quarter of 2013.
For full year 2013, the company raised its earnings per share
guidance to the range of $5.64 to $5.74 from the earlier range of
$5.57 to $5.67. However, it reiterated its guidance of
consolidated comparable store sales increase of 3% to 5% for the
The company also reiterated revenue guidance of $6.6 billion to
$6.7 billion, upgraded gross margin guidance to 50.0% to 50.4%
from 49.9% to 50.3%, and reiterated operating margin guidance
between 15.8% and 16.2% for the year.
Currently, shares of O'Reilly Automotive retain a Zacks Rank #3
(Hold). Some other stocks that are also performing well in the
broader industry where ORLY operates include
Magna International, Inc.
). All these companies carry a Zacks Rank #1 (Strong Buy).