AutoZone Now Covered by Analysts at Wedbush (AZO)
Equities researchers at Wedbush began coverage on shares of AutoZone (NYSE:AZO) in a research report issued on Monday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $440.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 3.28% from the stock’s previous close.
The analysts wrote, “Initiating coverage on AZO with a NEUTRAL rating and a $440 price target. We believe AZO offers exposure to a stable industry leader with the highest ROIC in hardlines retail, but we remain on the sidelines until industry headwinds fade. In 2005, AZO went through a renaissance with the appointment of Bill Rhodes as CEO. Mr. Rhodes enhanced DIY service levels, reinvigorated company culture and focused the company on improving returns, leading the company to compounded annual EPS growth of 18%.”
Shares of AutoZone (NYSE:AZO) opened at 426.04 on Monday. AutoZone has a 52-week low of $341.98 and a 52-week high of $452.19. The stock’s 50-day moving average is $420. and its 200-day moving average is $418.. The company has a market cap of $14.610 billion and a P/E ratio of 15.33.
AutoZone (NYSE:AZO) last announced its earnings results on Wednesday, September 25th. The company reported $10.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $10.38 by $0.04. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the company posted $8.46 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. Analysts expect that AutoZone will post $31.17 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Ned Davis Research upgraded shares of AutoZone from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 30th. Separately, analysts at RBC Capital raised their price target on shares of AutoZone from $441.00 to $454.00 in a research note to investors on Thursday, September 26th. They now have a “sector perform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of AutoZone in a research note to investors on Thursday, September 19th. They now have a $442.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $442.17.
AutoZone, Inc (NYSE:AZO) is a retailer and a distributor of automotive replacement parts and accessories in the United States.
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