O'Reilly Automotive (ORLY) released its Q3 2024 earnings report which displayed mixed results. Financial targets were missed, with revenue and EPS falling below estimates. The EPS missed by 13c and revenue fell short of estimates by $4.36 billion. Simultaneously, full-year guidance for FY24 was released and the company lowered their full-year outlook due to a soft demand environment. However, the auto parts giant unveiled its strong store expansion plans expressing resilience despite the challenging sales environment. This news led to multiple price target hikes by several investment firms, including Jefferies, UBS, TD Cowen, Mizuho, and Truist Securities, among others, raising it to values between $1,305 and $1,400. There are some red flags, however, as sales targets have been missed and the company appears to bear certain risks notably from industry headwinds. Notwithstanding, O'Reilly's long-term prospects are being perceived positively in the market.
O'reilly Automotive ORLY News Analytics from Mon, 08 Apr 2024 07:00:00 GMT to Sat, 26 Oct 2024 13:25:25 GMT - Rating -2 - Innovation 4 - Information 6 - Rumor 2
