AutoZone (NYSE:AZO) Stock Rating Reaffirmed by Wedbush

AutoZone (NYSE:AZOGet Rating)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a note issued to investors on Monday, Zacks.com reports.

Several other equities research analysts have also commented on the stock. Morgan Stanley upped their price target on shares of AutoZone from $2,050.00 to $2,125.00 and gave the company an “equal weight” rating in a report on Wednesday, March 2nd. Citigroup upped their price target on shares of AutoZone from $2,210.00 to $2,250.00 in a research report on Friday, May 13th. Zacks Investment Research lowered shares of AutoZone from a “strong-buy” rating to a “hold” rating and set a $2,096.00 target price for the company. in a report on Tuesday, February 8th. Raymond James raised their target price on AutoZone from $2,100.00 to $2,400.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 19th. Finally, JPMorgan Chase & Co. increased their price objective on AutoZone from $2,175.00 to $2,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $2,075.11.

Shares of NYSE AZO opened at $1,910.22 on Monday. The stock has a 50 day moving average price of $2,037.36 and a 200 day moving average price of $1,976.06. The firm has a market capitalization of $37.92 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.50 and a beta of 0.90. AutoZone has a 52-week low of $1,367.96 and a 52-week high of $2,267.40.

AutoZone (NYSE:AZOGet Rating) last released its quarterly earnings results on Tuesday, May 24th. The company reported $29.03 EPS for the quarter, beating the consensus estimate of $25.70 by $3.33. AutoZone had a net margin of 15.44% and a negative return on equity of 109.21%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the firm posted $26.48 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Equities research analysts anticipate that AutoZone will post 111.66 earnings per share for the current year.

In other news, EVP Philip B. Daniele sold 100 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $1,890.00, for a total transaction of $189,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Preston Frazer sold 1,500 shares of the stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $2,220.00, for a total transaction of $3,330,000.00. Following the completion of the transaction, the executive vice president now directly owns 783 shares in the company, valued at $1,738,260. The disclosure for this sale can be found here. Insiders have sold a total of 7,682 shares of company stock valued at $16,146,334 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $27,000. Riverview Trust Co acquired a new stake in AutoZone during the 1st quarter worth $27,000. Allworth Financial LP purchased a new position in AutoZone during the 4th quarter worth $29,000. Tcwp LLC acquired a new position in AutoZone in the first quarter valued at $30,000. Finally, CVA Family Office LLC acquired a new position in AutoZone in the fourth quarter valued at $31,000. 95.97% of the stock is owned by hedge funds and other institutional investors.

About AutoZone (Get Rating)

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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