Citigroup Inc. reissued their buy rating on shares of AutoZone (NYSE:AZO) in a research note released on Wednesday morning, Analyst Ratings Network reports. They currently have a $545.00 target price on the stock, up from their previous target price of $490.00.
“AZO’s traffic was challenged during the quarter while the lack of an inflationary catalyst weighed on average ticket growth. These industry drivers mirror recent commentary from peers. Though a 0.9% comp fell below our and consensus expectations, the company was still able to generate positive results and grow the commercial business despite lukewarm demand for auto parts due to a constrained lower end consumer environment. In addition, AZO continued to make headway on the DIFM front as it grew commercial sales by 13.9% y/y (+0.5% on a per average commercial program basis).,” the firm’s analyst wrote.
Citigroup Inc. has also taken action a number of other consumer discretionary stocks recently. The firm reiterated its buy rating on shares of Ulta Salon Cosmetics & Fragrance Inc.. They have a $123.00 price target on that stock, down previously from $145.00. Also, Citigroup Inc. reiterated its buy rating on shares of Mattress Firm Holding Corp.. They have a $47.00 price target on that stock, up previously from $40.00.
AutoZone (NYSE:AZO) traded down 0.17% on Wednesday, hitting $466.99. The stock had a trading volume of 98,903 shares. AutoZone has a 1-year low of $341.98 and a 1-year high of $484.16. The stock has a 50-day moving average of $451.5 and a 200-day moving average of $431.5. The company has a market cap of $15.929 billion and a price-to-earnings ratio of 16.26.
AutoZone (NYSE:AZO) last released its earnings data on Tuesday, December 10th. The company reported $6.29 earnings per share (EPS) for the quarter, beating the 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.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a neutral rating on shares of AutoZone in a research note to investors on Wednesday. They now have a $495.00 price target on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $471.60.
AutoZone, Inc (NYSE:AZO) is a retailer and a distributor of automotive replacement parts and accessories in the United States.
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