Barclays on U.S. Retail Hardlines: Reiterate Affinity for Aftermarket Auto Parts
Tweet
Share
E-mailGet Alerts AAP Hot Sheet
Price: $42.58 +0.45%
Rating Summary:
9 Buy, 30 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 30 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Barclays on U.S. Retail Hardlines: Reiterate Affinity for Aftermarket Auto Parts
Analyst, Alan M. Rifkin, said, "We are reiterating our long-standing affinity for the aftermarket auto parts sector as we believe continued declines in gas prices and continued increases in vehicle miles driven could drive further upside in the sector..."
Rifkin notes the recent decline in gas prices and vehicle miles are up year-over-year (for Dec, Jan and Feb).
On an individual basis:
Advance Auto Parts (NYSE: AAP): Expect 1Q EPS of $1.85, $0.03 above the Street and full-year EPS of $6.05, $0.08 above the Street.
AutoZone (NYSE: AZO): Remains a Top Pick; Expect fiscal 3Q EPS of $6.30, $0.04 above the Street and full-year EPS of $23.45, $0.15 above the Street...Our fiscal 3Q EPS estimate represents a 19% y/y increase in EPS. All-in, we are forecasting fiscal 3Q company-wide comps of 5.0%, including 2.5% retail comps and a robust 20% commercial comp."
O'Reilly (Nasdaq: ORLY): Remains a Top Pick after strong quarter. Strong fiscal 1Q results at O'Reilly - driven by positive weather and industry-wide growth - suggest that quarterly trends in aftermarket auto parts may be better than we previously anticipated.
Analyst, Alan M. Rifkin, said, "We are reiterating our long-standing affinity for the aftermarket auto parts sector as we believe continued declines in gas prices and continued increases in vehicle miles driven could drive further upside in the sector..."
Rifkin notes the recent decline in gas prices and vehicle miles are up year-over-year (for Dec, Jan and Feb).
On an individual basis:
Advance Auto Parts (NYSE: AAP): Expect 1Q EPS of $1.85, $0.03 above the Street and full-year EPS of $6.05, $0.08 above the Street.
AutoZone (NYSE: AZO): Remains a Top Pick; Expect fiscal 3Q EPS of $6.30, $0.04 above the Street and full-year EPS of $23.45, $0.15 above the Street...Our fiscal 3Q EPS estimate represents a 19% y/y increase in EPS. All-in, we are forecasting fiscal 3Q company-wide comps of 5.0%, including 2.5% retail comps and a robust 20% commercial comp."
O'Reilly (Nasdaq: ORLY): Remains a Top Pick after strong quarter. Strong fiscal 1Q results at O'Reilly - driven by positive weather and industry-wide growth - suggest that quarterly trends in aftermarket auto parts may be better than we previously anticipated.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- DA Davidson Starts Everus (ECG) at Buy
- Advance Auto Parts (AAP) PT Lowered to $45 at TD Cowen
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Retail SalesRelated Entities
BarclaysSign 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!
