Nomura Securities Reiterates a 'Buy' on AutoZone (AZO); Q2 Preview
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Price: $3,025.00 -0.51%
Rating Summary:
30 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
30 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities reiterates a 'Buy' on AutoZone (NYSE: AZO) price target of $395.00.
Analyst, Aram Rubinson, said, "We are looking for EPS of $4.08 versus the Street at $4.04. Our full-year projection calls for earnings of $23.90, about 3% ahead of the Street at $23.15. For AZO DIY is the core-competency. It faces little in the way of unique challenges. To better understand this dynamic, we studied the replacement rates of 100 parts across four age cohorts (0-3 yrs, 4-7, 8-11, and 12+). AutoZone refers to vehicles older than seven years as “our kind of vehicle”. Our analysis suggests that, while ticket is the bigger driver in the 8-11 year cohort (+ approximately 25%), traffic is also a contributor (+ approximately 4.5%) for those that can execute well. We expect that AZO will also continue to deliver high EBIT margins and strong cash flow, which it largely returns to shareholders."
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 $358.50 yesterday.
Analyst, Aram Rubinson, said, "We are looking for EPS of $4.08 versus the Street at $4.04. Our full-year projection calls for earnings of $23.90, about 3% ahead of the Street at $23.15. For AZO DIY is the core-competency. It faces little in the way of unique challenges. To better understand this dynamic, we studied the replacement rates of 100 parts across four age cohorts (0-3 yrs, 4-7, 8-11, and 12+). AutoZone refers to vehicles older than seven years as “our kind of vehicle”. Our analysis suggests that, while ticket is the bigger driver in the 8-11 year cohort (+ approximately 25%), traffic is also a contributor (+ approximately 4.5%) for those that can execute well. We expect that AZO will also continue to deliver high EBIT margins and strong cash flow, which it largely returns to shareholders."
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 $358.50 yesterday.
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