Gabelli & Company Maintains Autozone Buy (AZO)

Gabelli & Company maintained its Autozone AZO Buy rating in a research report published today. In the report, Gabelli states, "While we are cautious that spikes in gas prices above $4 per gallon could potentially alter consumer buying habits as they did in 2008, we believe our FY11 EPS estimate of $17.10 (44 mm shares) and FY12 estimate of $19.50 (40mm shares) may prove conservative as AZO realizes cost efficiencies from its Hub Store rollout." Shares of Autozone are currently trading at $262.64 at the time of posting, down 0.33% from Tuesday's market close. Hedge fund manager Eddie Lampert of ESL Investments is the largest direct holder of Autozone.