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O'Reilly Automotive is scheduled to release its latest earnings results next month.
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O'Reilly Automotive is scheduled to release its latest earnings results next month.

O'Reilly Auto stock hits all-time high

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O'Reilly Automotive Inc.'s (Nasdaq: ORLY) stock hit an all-time high this morning as investors await the company's annual earnings results.

Shares of the Springfield-based auto parts retailer rose as high as $496.61, beating the previous high of $487.95 set July 30, according to real-time trades on the Nasdaq stock market.

O'Reilly Automotive on Jan. 4 announced its fourth quarter and full-year 2020 earnings report would be released on Feb. 10.

In earnings reports last year, O'Reilly Automotive officials set a full-year revenue range of $10.7 billion-$11 billion. Through the third quarter ended Sept. 30, the company posted $8.8 billion in sales, up 14% from $7.7 billion during the same period of 2019, according to its latest earnings report. Springfield Business Journal last month reported the company's next annual sales goal is $15 billion by 2027.

O'Reilly Automotive stock in recent days has been recommended by investor websites such as Seeking Alpha and Simply Wall St.

"O'Reilly showcases robust financials, economies of scale and a prolonged, powerful capital return strategy of endless buybacks," the Jan. 9 Seeking Alpha report indicates.

In the third quarter, O'Reilly Automotive repurchased 1 million shares of its common stock for a total investment of roughly $443 million. It also conducted a roughly $500 million debt round.

ORLY's 52-week low is $251.52.

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