AutoZone (NYSE:AZO)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Thursday, AR Network reports. They currently have a $442.00 target price on the stock. Zacks‘ price objective suggests a potential upside of 5.08% from the stock’s previous close.
Zacks‘ analyst wrote, “AutoZone is focused on aggressive share repurchase program to boost earnings. As a result, the company raised its repurchase authorization by $750 million. Further, the company is focusing on sales increase through the expansion of stores. The company posted a 15.8% rise in earnings per share to $7.27 in the third quarter of fiscal 2013, surpassing the Zacks Consensus Estimate by $0.06. The company’s revenues increased 4.4% to $2.2 billion. However, the company’s rising debt and interest burden can affect financials in the long term. Moreover, we remain concerned about the rising gas prices 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.”
Shares of AutoZone (NYSE:AZO) traded down 0.06% during mid-day trading on Thursday, hitting $420.36. 109,498 shares of the company’s stock traded hands. AutoZone has a 1-year low of $341.98 and a 1-year high of $452.19. The stock has a 50-day moving average of $425. and a 200-day moving average of $413.8. The company has a market cap of $14.932 billion and a price-to-earnings ratio of 16.15.
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
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.