AutoZone (NYSE:AZO) Receives Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of AutoZone (NYSE:AZOFree Report) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $3,200.00 target price on the stock.

A number of other brokerages have also weighed in on AZO. Morgan Stanley lowered their target price on AutoZone from $3,100.00 to $3,038.00 and set an overweight rating on the stock in a research note on Wednesday, May 22nd. Oppenheimer reissued a market perform rating and set a $2,600.00 price target on shares of AutoZone in a research report on Wednesday, June 26th. Citigroup reduced their price target on AutoZone from $3,420.00 to $3,250.00 and set a buy rating on the stock in a research report on Wednesday, May 22nd. StockNews.com downgraded AutoZone from a buy rating to a hold rating in a research report on Friday, April 12th. Finally, UBS Group reduced their price target on AutoZone from $3,465.00 to $3,340.00 and set a buy rating on the stock in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $3,112.71.

View Our Latest Stock Analysis on AZO

AutoZone Trading Up 1.5 %

Shares of NYSE AZO opened at $2,859.54 on Wednesday. The firm has a market cap of $48.85 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 1.42 and a beta of 0.71. AutoZone has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The business’s 50 day moving average is $2,874.53 and its 200-day moving average is $2,875.87.

AutoZone (NYSE:AZOGet Free Report) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $34.12 earnings per share. Analysts forecast that AutoZone will post 151.57 EPS for the current year.

Insider Activity at AutoZone

In other news, VP Jenna M. Bedsole acquired 36 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the acquisition, the vice president now directly owns 36 shares in the company, valued at approximately $99,255.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AZO. Rise Advisors LLC bought a new position in AutoZone during the 1st quarter worth $32,000. Riverview Trust Co bought a new position in AutoZone during the 1st quarter worth $41,000. Turtle Creek Wealth Advisors LLC bought a new position in AutoZone during the 4th quarter worth $54,000. Private Wealth Management Group LLC bought a new position in AutoZone during the 4th quarter worth $54,000. Finally, Quarry LP bought a new position in AutoZone during the 4th quarter worth $70,000. 92.74% of the stock is owned by institutional investors.

About AutoZone

(Get Free Report)

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.

Further Reading

Analyst Recommendations for AutoZone (NYSE:AZO)

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