William Blair analyst Phillip Blee has maintained their bullish stance on AZO stock, giving a Buy rating today.
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Phillip Blee has given his Buy rating due to a combination of factors that highlight AutoZone’s potential for growth despite recent mixed financial results. Although the company’s earnings per share fell short of expectations due to an $80 million LIFO charge, Blee believes that excluding this charge, the adjusted EPS would have exceeded the Street’s estimates, indicating underlying strength.
Furthermore, Blee is optimistic about AutoZone’s pricing power and the positive trends in commercial sales, which are crucial for the company’s success in the aftermarket auto parts sector. He also notes the potential for growth through aggressive store expansion plans and believes that the company’s defensive nature and historical pricing power position it well for continued upward movement in its stock price, even in a risk-on market environment.
In another report released today, Roth MKM also reiterated a Buy rating on the stock with a $4,800.00 price target.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AZO in relation to earlier this year.