O'Reilly's On-Track 1Q Results Leave Our Outlook in Place; Shares Rich
We do not plan a large change to our $307 fair value estimate for narrow-moat O’Reilly Automotive after the company reported first-quarter earnings that indicate it is on track to meet our full-year expectations. Our long-term forecast still calls for mid-single-digit annual sales growth and 20% operating margins, on average, over the next decade. While our outlook for the firm and the industry remains favorable, we believe O'Reilly's current share price assume a degree of perfection with which ...O'Reilly Automotive is a retailer of automotive aftermarket parts, tools, supplies, equipment and accessories, selling its products to both do-it-yourself and service provider customers. The company's stores carry a product line, including: new and remanufactured automotive hard parts and maintenance items, such as alternators, batteries, brake system components, belts, chassis parts, driveline parts, engine parts, fuel pumps, hoses, starters, temperature control, water pumps, antifreeze, appearance products, engine additives, filters, fluids, lighting, oil and wiper blades; and accessories, such as floor mats, seat covers and truck accessories.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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