(Bloomberg) -- O'Reilly Automotive Inc. sank as much as 18 percent after second quarter same-store sales fell short of its forecast, due to weak demand and a mild winter. The shares, which were trading at more than 27 times estimated forward earnings in October 2015, closed the valuation gap with peers, after the multiple fell below 14. Shares of other auto parts retailers, AutoZone Inc., Advance Auto Parts Inc. and Genuine Parts Co. fell sharply, while companies who rely on them as customers such as Standard Motor Products Inc. and Dorman Products Inc. also dropped.
--With assistance from Richard Richtmyer
To contact the reporter on this story: Esha Dey in New York at edey@bloomberg.net.
To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net, Morwenna Coniam
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