In a note initiating coverage on the sector, Sterne Agee analyst Ali Faghri said the aftermarket auto parts group "offers positive industry demand tailwinds, attractive valuations, e-commerce protection and a high degree of fragmentation with continued market consolidation opportunities." He says the sector is unique in retail in that leading players such as O'Reilly and Advance Auto Parts - as well as O'Reilly and Advance Auto Parts have produced particularly robust financial returns in recent quarters.