AutoZone (NYSE: AZO)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Monday. They currently have a $405.00 target price on the stock.
Zacks‘ analyst wrote, “AutoZone is focused on an aggressive share repurchase program and intends to grow sales through expansion of hub stores. The company posted a 15.2% rise in earnings per share to $4.78 in second-quarter fiscal 2013 (ended Feb 9, 2013), surpassing the Zacks Consensus Estimate by $0.04. The company’s revenues increased 32.8% to $1.86 billion, marginally missing the Zacks Consensus Estimate of $1.88 billion. However, we remain concerned about the rising gas prices and the company’s heavy reliance on its private label brands that may affect its margins. As such, we continue with our Neutral recommendation on the stock and set a target price of $405.00. “
AutoZone traded up 0.45% on Monday, hitting $386.98. AutoZone has a 52-week low of $341.98 and a 52-week high of $399.10. The stock’s 50-day moving average is currently $373.5. The company has a market cap of $13.961 billion and a price-to-earnings ratio of 15.37.
AutoZone last issued its quarterly earnings data on Tuesday, February 26th. The company reported $4.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $4.76 by $0.02. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the company posted $4.15 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts expect that AutoZone will post $27.62 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of AutoZone in a research note to investors on Friday. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of AutoZone in a research note to investors on Monday, March 4th. They now have a $440.00 price target on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of AutoZone from $340.00 to $357.00 in a research note to investors on Wednesday, February 27th. They now have an “underweight” rating on the stock.
Twelve equities research analysts have rated the stock with a buy rating, two have assigned an overweight rating, eight have given a hold rating, and one has issued a sell rating to the company. The company presently has a consensus rating of “overweight” and an average price target of $417.22.
AutoZone, Inc. (AutoZone) is a retailer and a distributor of automotive replacement parts and accessories in the United States.
To view Zacks’ full report, visit www.zacks.com
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