Nomura Securities Maintains a 'Buy' on AutoZone (AZO); Buyback in High Gear
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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 maintains a 'Buy' on AutoZone (NYSE: AZO) price target of $445.00.
Analyst, Aram Rubinson, said, "In AZO’s 10Q filing, it suggests the company bought back ~$240m (640k shares) worth of stock in the 34 days since its balance sheet date of May 5. That marks the fastest start to a quarter in the last 10. While many are fretting about more moderate sales trends in the sector, we believe trends at AZO remain strong. Its willingness to pay $375/share last month should offer some affirmation. The cash generative virtues of the model remain firmly in place, but the investment case is beginning to center more on revenue growth as AZO penetrates Commercial. We remain buyers. F12E/F13E EPS of $23.72/$28.84 vs. Street $24.43/$27.17."
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 $382.91 yesterday.
Analyst, Aram Rubinson, said, "In AZO’s 10Q filing, it suggests the company bought back ~$240m (640k shares) worth of stock in the 34 days since its balance sheet date of May 5. That marks the fastest start to a quarter in the last 10. While many are fretting about more moderate sales trends in the sector, we believe trends at AZO remain strong. Its willingness to pay $375/share last month should offer some affirmation. The cash generative virtues of the model remain firmly in place, but the investment case is beginning to center more on revenue growth as AZO penetrates Commercial. We remain buyers. F12E/F13E EPS of $23.72/$28.84 vs. Street $24.43/$27.17."
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 $382.91 yesterday.
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