Zacks restated their neutral rating on shares of AutoZone (NYSE:AZO) in a report released on Wednesday, Analyst Ratings Network.com reports. Zacks currently has a $495.00 price objective on the stock.
Zacks’ analyst wrote, “AutoZone reported a 16.2% rise in earnings per share to $6.29 for the first quarter of fiscal 2014, surpassing the Zacks Consensus Estimate by $0.03. Revenues increased 5.1% year over year to $2,093.6 million, missing the Zacks Consensus Estimate of $2,099 million. The company is focusing on increasing sales through the expansion of stores. Moreover, AutoZone is focused on an aggressive share repurchase program to boost earnings. However, rising debt and interest burden can affect financials in the long term. Moreover, we remain concerned about the rising gas prices, consolidation among vendors and the company’s heavy reliance on its private label brands, which may affect its margins. As such, we continue with our Neutral recommendation on the stock.”
Zacks has also modified their ratings on a number of other consumer discretionary stocks in the few days. The firm reiterated its outperform rating on shares of Citi Trends Inc.. They have a $18.00 price target on that stock. Also, Zacks downgraded shares of Francesca’s Holdings Corp. from a neutral rating to an underperform rating. Their analysts now have a $16.20 price target on that stock. Finally, Zacks downgraded shares of Ulta Salon Cosmetics & Fragrance Inc. from a neutral rating to an underperform rating. Their analysts now have a $78.10 price target on that stock.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a hold rating on shares of AutoZone in a research note to investors on Wednesday. They now have a $470.00 price target on the stock, up previously from $410.00. Separately, analysts at RBC Capital raised their price target on shares of AutoZone from $454.00 to $501.00 in a research note to investors on Wednesday. They now have a sector perform rating on the stock. Finally, analysts at Bank of America Corp. downgraded shares of AutoZone to a neutral rating in a research note to investors on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $471.60.
Shares of AutoZone (NYSE:AZO) traded down 0.30% on Wednesday, hitting $466.37. The stock had a trading volume of 68,583 shares. AutoZone has a 52-week low of $341.98 and a 52-week high of $484.16. The stock’s 50-day moving average is $451.5 and its 200-day moving average is $431.5. The company has a market cap of $15.908 billion and a price-to-earnings ratio of 16.26.
AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $6.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $6.27 by $0.02. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the company posted $5.41 earnings per share. AutoZone’s revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that AutoZone will post $31.25 earnings per share for the current fiscal year.
AutoZone, Inc (NYSE:AZO) 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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