What's Happening with AZO
Auto parts retailer AutoZone (AZO) will report earnings December 10. The retailer is expected to post fiscal first-quarter earnings of $13.69 per share, versus $13.47 during the same period last year. AZO stock is trading just shy of its all-time high with shares up 40% on the year.
Technical Analysis
AZO was recently trading at $1172.72 down $15.46 from its 12-month high and $374.31 above its 12-month low. InvestorsObserver's Stock Score Report gives AZO a 84 long-term technical score and a 46 short-term technical score. The stock has recent support above $1100 and recent resistance below $1188. Of the 17 analysts who cover the stock 10 rate it Strong Buy, 1 rate it Buy, 6 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, AZO gets a score of 63 from InvestorsObserver's Stock Score Report.
Analysts' Thoughts
The auto industry remains solid, and auto parts retailers have been strong performers in the market. AutoZone has shown annual earnings growth 14.5% over the last five years, and analysts expect growth to remain strong at 10.3% per annum over the next five years. The company posted mixed numbers last quarter with an earnings miss and better than expected sales. The quarter the street expects to see a positive earnings surprise with a $14.02 whisper number. The stock remains reasonably priced at 18 times earnings which should allow for additional upside as long as the company is able to hit or slightly top estimates. Analysts have an average price target of $1,182.31 on the stock.