Barclays Maintains an 'Overweight/Top Pick' on AutoZone (AZO); Q4 Preview
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Price: $2,961.04 -0.02%
Rating Summary:
27 Buy, 10 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
27 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Barclays maintains an 'Overweight' on AutoZone (NYSE: AZO) price target of $420.00.
AZO reports Q4 earnings on September 19, before the open. Analyst, Alan M. Rifkin, names AZO as a top pick and previews the company's quarterly expectations.
Rifkin, said, "Expect industry-leading comps of 3 - 3.5% and above consensus EPS: Our 4Q EPS estimate of $8.51, vs. $7.18 LY, is $0.09 above the Street. Our estimate for industry-leading 3 - 3.5% comps is predicated upon commercial comps of 18 - 20% and slightly positive DIY comps."
The Barclays analyst also believes AZO's management has stayed aggressive with the company's buyback strategy, including about $450 million in stock in Q4.
For an analyst ratings summary and ratings history on AutoZone click here. For more ratings news on AutoZone click here.
Shares of AutoZone closed at $369.90 yesterday.
AZO reports Q4 earnings on September 19, before the open. Analyst, Alan M. Rifkin, names AZO as a top pick and previews the company's quarterly expectations.
Rifkin, said, "Expect industry-leading comps of 3 - 3.5% and above consensus EPS: Our 4Q EPS estimate of $8.51, vs. $7.18 LY, is $0.09 above the Street. Our estimate for industry-leading 3 - 3.5% comps is predicated upon commercial comps of 18 - 20% and slightly positive DIY comps."
The Barclays analyst also believes AZO's management has stayed aggressive with the company's buyback strategy, including about $450 million in stock in Q4.
For an analyst ratings summary and ratings history on AutoZone click here. For more ratings news on AutoZone click here.
Shares of AutoZone closed at $369.90 yesterday.
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