Could O'Reilly Automotive's (ORLY) Aggressive Buybacks Signal Enduring Confidence or Missed Investment Alternatives?

Earlier this month, O'Reilly Automotive reached a new all-time high, supported by a long-running share repurchase initiative that has reduced shares outstanding by 24% since 2020 and by management's continued optimism regarding same-store sales and profit margins through 2025. An interesting aspect is O'Reilly Automotive's ongoing buyback program, which is helping drive investor confidence by consistently reducing the number of shares on the market. Given the company’s robust buyback...