) to outperform from neutral on Monday, explaining that the company's price is more attractive now and it has a positive outlook.
Analyst J. David Cumberland noted that the stock recently lost 10% of its value since its second quarter report. In contrast, the S&P 500 was up by 1%.
Meanwhile the analyst is confident about his third quarter estimates for the company's sales (7%, with guidance between 4% and 6%, as well as 37 cents earnings per share, with guidance between 36 cents and 38 cents.) He sees slight upside potential in the company's stock price if September trends are good, and says his survey of independent retailers and repair shops showed solid category sales between July and August. Factors driving healthy near term comparables should include merchandising initiatives, commercial programs, strong store-level execution, and marketing.