AutoZone (NYSE: AZO) is a specialty retailer and distributor of automotive replacement parts and accessories. Its stores offer the do-it-yourself car tech tremendous value on parts and accessories. The company stocks all kinds of parts and has a great sales staff. In my experience, their parts personnel have always been very knowledgeable and extremely helpful.
On Sept. 23, the company reported a 3% decline in its fiscal fourth-quarter profit. This decline in earnings could have been the result of the government's "cash for clunkers" plan, which saw many older vehicle owners turn in their cars for a credit toward the purchase of a new vehicle.
But apparently, analysts who cover AZO weren't too perturbed by the company's numbers. FBR Capital Markets upgraded AutoZone to "market perform" from "underperform" after the earnings news.
Despite its high price tag, AZO could still drive your portfolio higher.
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