Barclays Maintains an 'Overweight' on O'Reilly Automotive (ORLY); Additional $500M Share Buyback Compliments Impressive Fundamentals

Barclays maintains an 'Overweight' on O'Reilly Automotive (NASDAQ: ORLY) price target of $80.00.

Barclays analyst says, "This is a positive announcement as it reconfirms our belief that O'Reilly's increasingly strengthening cash flow position is being utilized to more aggressively buy back stock as part of its increased ROIC focus. In our view, the company's increasing cash flow is enabling it to buy back stock at an accelerating pace. We believe that O'Reilly's increased ROIC dedication via share buybacks compliments its strong organic growth story. In our view, further buybacks and authorizations are quite likely."

"...We believe that O'Reilly, given its strong free cash flow generation, has the potential to sustain a long-running, successful track record of share buybacks going forward. Furthermore, O'Reilly's fundamentals remain very strong - the company recently reported a quarter that was impressive by any financial metric. O'Reilly is one of our top picks in Hardlines, and we reiterate our rating."

For an analyst ratings summary and ratings history on OReilly Automotive click here. For more ratings news on OReilly Automotive click here.

Shares of OReilly Automotive closed at $76.62 yesterday.

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