Barclays Maintains an 'Overweight' on AutoZone (AZO); Additional Share Authorization Complements Strong Fundamentals
Tweet
Share
E-mailGet Alerts AZO Hot Sheet
Price: $2,922.44 -2.21%
Rating Summary:
27 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
27 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Join SI Premium – FREE
Barclays maintains an 'Overweight' on AutoZone (NYSE: AZO), PT $336.
Barclays analyst says, "Additional $500M authorization continues EPS growth: AutoZone authorized an additional $500 million share repurchase, bringing the total program since 1998 to $10.4 billion. We note this follows recent prior $500 million authorizations, which were announced in December, September and June 2010, as well as in December 2009. We believe the frequency of authorizations demonstrates AZO's aggressive repurchasing behavior..."
"We favorably view AZO's consistent double-digit earnings growth, healthy company and industry fundamentals, and low relative cyclicality. As such, we reiterate our Overweight rating...Remains Top Pick."
For more ratings news on AutoZone click here and for the rating history of AutoZone click here.
Shares of AutoZone closed at $289.87 yesterday.
Barclays analyst says, "Additional $500M authorization continues EPS growth: AutoZone authorized an additional $500 million share repurchase, bringing the total program since 1998 to $10.4 billion. We note this follows recent prior $500 million authorizations, which were announced in December, September and June 2010, as well as in December 2009. We believe the frequency of authorizations demonstrates AZO's aggressive repurchasing behavior..."
"We favorably view AZO's consistent double-digit earnings growth, healthy company and industry fundamentals, and low relative cyclicality. As such, we reiterate our Overweight rating...Remains Top Pick."
For more ratings news on AutoZone click here and for the rating history of AutoZone click here.
Shares of AutoZone closed at $289.87 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Midday movers: Meta, IBM, Caterpillar fall; Chipotle rises
- Capitol Federal Financial (CFFN) PT Lowered to $6 at Keefe, Bruyette & Woods
- Airbus revenue rises, delivers 142 commercial aircraft in Q1
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Barclays, Stock Buyback, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
