AZO - O'Reilly Automotive: Industry Weakness May Provide A Buying Opportunity
2024-07-05 09:24:38 ET
Summary
- O'Reilly Automotive, Inc. showed stable performance in Q1, but shares didn't appreciate the result due to a weaker-than-expected profitability in the quarter and 2024 guidance.
- The industry is expected to show weakness as companies are showing slower comparable sales. O'Reilly Automotive has also seen pressured 2024 forecasts as adverse short-term industry dynamics weigh on the stock.
- If further weakness pushes O'Reilly Automotive's earnings and stock down further, a great buying opportunity could emerge.
O’Reilly Automotive, Inc. ( ORLY ), the automotive part retailer, showed a stable performance in Q1 with a slight EPS miss , but a slower EPS guidance for 2024 than markets anticipated. Barclays has recently also weighed on the potential weakness with decreased financial estimates for O’Reilly for the year....
O'Reilly Automotive: Industry Weakness May Provide A Buying Opportunity