BMO Capital Markets Begins Coverage on AutoZone (NYSE:AZO)

Research analysts at BMO Capital Markets began coverage on shares of AutoZone (NYSE:AZO) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $3,700.00 price target on the stock. BMO Capital Markets’ target price points to a potential upside of 9.78% from the stock’s current price.

Several other analysts also recently commented on the stock. Mizuho increased their target price on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Roth Mkm reiterated a “buy” rating and issued a $3,634.00 price objective on shares of AutoZone in a research note on Wednesday, October 16th. The Goldman Sachs Group downgraded AutoZone from a “buy” rating to a “sell” rating and decreased their target price for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3,360.47.

AutoZone Trading Up 0.9 %

NYSE:AZO opened at $3,370.27 on Friday. AutoZone has a 12 month low of $2,510.00 and a 12 month high of $3,416.71. The stock has a market capitalization of $56.97 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 1.73 and a beta of 0.71. The firm has a fifty day simple moving average of $3,155.07 and a two-hundred day simple moving average of $3,066.94.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the company earned $32.55 EPS. AutoZone’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts predict that AutoZone will post 154.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the transaction, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock valued at $46,225,660 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in AutoZone in the 3rd quarter worth $36,000. Meeder Asset Management Inc. increased its position in shares of AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC bought a new stake in AutoZone in the 3rd quarter worth about $47,000. Darwin Wealth Management LLC purchased a new position in shares of AutoZone during the third quarter valued at approximately $47,000. Finally, ORG Partners LLC bought a new position in AutoZone during the second quarter valued at approximately $50,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

About AutoZone

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.