AutoZone Price Target Increased to $470.00 by Analysts at Deutsche Bank (AZO)
Equities researchers at Deutsche Bank lifted their price target on shares of AutoZone (NYSE:AZO) from $410.00 to $470.00 in a research report issued on Wednesday, Analyst RN reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price target indicates a potential downside of 0.39% from the company’s current price.
The analysts wrote, “Internal initiatives, easier compares can help partially offset industry headwinds. The persistent decline in comp trends is a result of industry headwinds, primarily fewer cars in the 7-11 sweet spot in our view. But AZO is testing out a number of initiatives, including improving parts availability and distribution frequency to offset this dynamic. There seems to be some positive impact as AZO data points to better share performance this quarter. But it is coming at a cost on SGA and inventory, which both increased more than we estimated. AZO will continue these tests before making a decision if the sales benefit is worth the costs. AZO is also cycling negative comps, but the two year stacked may not accelerate. We maintain our Hold rating on valuation.”
A number of other analysts have also recently weighed in on AZO. 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. Separately, analysts at Bank of America Corp. downgraded shares of AutoZone to a “neutral” rating in a research note to investors on Tuesday. Finally, analysts at UBS AG raised their price target on shares of AutoZone from $430.00 to $470.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $471.60.
AutoZone (NYSE:AZO) traded down 0.93% on Wednesday, hitting $467.47. The stock had a trading volume of 385,075 shares. AutoZone has a 52 week low of $341.98 and a 52 week high of $484.16. The stock has a 50-day moving average of $450.5 and a 200-day moving average of $431.2. The company has a market cap of $15.908 billion and a P/E ratio of 16.98.
AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 10th. The company reported $6.29 earnings per share for the quarter, beating the analysts’ 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. Analysts expect that AutoZone will post $31.24 EPS 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.
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