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AZO

AutoZone

$735.90

10.9 (1.50%)

07:02
02/27/18
02/27
07:02
02/27/18
07:02

AutoZone says exiting IMC and AutoAnything allows intensified focus on core

"I would like to thank and congratulate our entire organization for delivering another solid quarter of sales and earnings results. Our ongoing initiatives, which include enhanced inventory availability, commercial acceleration and omni-channel, are gaining traction and, as expected, our business improved due to the more harsh winter conditions we experienced in late December and January. Based on the results of a strategic review of our business priorities, we have determined IMC and AutoAnything serve niche markets that are not core to our strategic priorities going forward and those two businesses are being sold. We thank all the employees of IMC and AutoAnything for their contributions to our success and wish them well in the future. Exiting these two businesses will allow us to intensify our focus on our core DIY and DIFM operations both domestically and internationally, which we continue to believe are very attractive markets. As we continue to invest capital in our business, we will remain committed to our disciplined approach of increasing operating earnings and utilizing our capital effectively," said Bill Rhodes, Chairman, President and CEO. The company recorded approximately $193.2M in intangible and other assets impairment charges within operating expenses related to its IMC and AutoAnything businesses, as both of these businesses are being sold.

  • 27

    Feb

  • 07

    Mar

AZO AutoZone
$735.90

10.9 (1.50%)

12/06/17
RBCM
12/06/17
NO CHANGE
Target $705
RBCM
Sector Perform
AutoZone price target raised to $705 from $595 at RBC Capital
RBC Capital analyst Scot Ciccarelli raised his price target on AutoZone to $705 after Q1 earnings beat, but kept his Sector Perform rating due to flat gross margins and higher storm-related SG&A costs leading to EBIT margin contraction. The analyst says the company's Q2 is typically more volatile because of weather factors, adding that "more consistent sales/margin performance will be necessary to quell investor concerns of more structural challenges to the business".
12/06/17
12/06/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Toll Brothers (TOL) downgraded to Sector Weight from Overweight at KeyBanc with analyst Kenneth Zener citing the company's fourth quarter results. 2. Chemours (CC) downgraded to Neutral from Buy at Goldman Sachs with analyst Robert Koort citing a moderating view for TiO2 pricing. 3. Patterson Cos (PDCO) and Henry Schein (HSIC) were downgraded to Underweight from Equal Weight at Morgan Stanley. 4. AutoZone (AZO) downgraded to Neutral from Buy at Guggenheim with analyst Steven Forbes citing balanced risk/reward following the recent share rally. 5. Edison International (EIX) downgraded to Neutral from Buy at Mizuho. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/02/18
ARGS
02/02/18
NO CHANGE
Target $875
ARGS
Buy
AutoZone price target raised to $875 from $675 at Argus
Argus analyst Chris Graja raised his price target on AutoZone to $875, saying the company stand to benefit from an aging vehicle fleet, low gasoline prices, and increasing miles driven per car in addition to lower tax rate for the entire 2018 estimated at 27% vs current 34%. Graja keeps his Buy rating on AutoZone.
02/23/18
UBSW
02/23/18
NO CHANGE
Target $875
UBSW
Buy
AutoZone valuation attractive ahead of Q4 results, says UBS
UBS analyst Michael Lasser believes AutoZone's valuation is attractive heading into Q4 results. The analyst expects a positive report given the timing of the calendar, cooperative weather, and easier comps. He said if the news in the report is good, it has a good chance to continue. Lasser reiterated his Buy rating and $875 price target on AutoZone shares.

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BOX

Box

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ALDX

Aldeyra

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Greenlight Capital Re

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