O’Reilly Automotive Inc – Top Retail Stocks Today
The stock market on 6th October 2021 started out in negative territory. There were plenty of concerns about rising oil prices, rising bond yields, and a potential government shutdown due to disagreements in the Senate. However, as the day progressed, things turned around and the day ended up being a good one for the markets. O’Reilly Automotive benefitted from the turnaround and it ended up being 0.87% higher for the day. The stock is an interesting one given the semiconductor shortage situation facing the auto industry. O’Reilly is an auto parts retailer. It is not like the traditional consumer retail companies that have stores in malls that have been under pressure due to the pandemic. O’Reilly is somewhat of a defensive pick because Americans kept driving even during the pandemic. Now, the driving activity is picking up even more as people begin to travel. All such car owners will need servicing and the demand for replacement parts is also expected to be robust. So, if you are looking to buy top retail stocks, then companies like O’Reilly could be a good bet.
O’Reilly – The Largest Auto Retailer
O’Reilly Automotive is the largest of the 3 big auto retailers in the US. It competes very closely with Auto Zone and regularly swaps the number one position for the number two position. Napa Auto Parts, meanwhile, is the third-largest auto retailer. In terms of the number of stores, both O’Reilly Automotive and Auto Zone have close to 5900 stores. Napa Auto Parts has around 5200 stores. O’Reilly has used the downtime during the pandemic to concentrate on its growth strategy and open new stores. O’Reilly’s stock is also up 5.5% over the past 30 days when seen on 6th October 2021. It is among the top retail stocks today.
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O’Reilly is not just expanding in the US, but it also has its sights set on the international market. In November 2019, it acquired Mexican auto parts retailer Mayasa. It is competing with Auto Zone that has more than 600 stores in Mexico.