AutoZone, Inc. (NYSE:AZO) Given Average Recommendation of “Buy” by Brokerages

Shares of AutoZone, Inc. (NYSE:AZO) have earned a consensus rating of “Buy” from the twenty-six ratings firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $4,538.2083.

AZO has been the topic of a number of research analyst reports. Citigroup reduced their target price on AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial cut their price objective on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a report on Wednesday. Jefferies Financial Group raised their price objective on AutoZone from $4,255.00 to $4,750.00 and gave the company a “buy” rating in a report on Wednesday. Guggenheim boosted their target price on AutoZone from $4,100.00 to $4,600.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Evercore ISI upped their target price on AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th.

AutoZone Price Performance

Shares of AutoZone stock opened at $4,196.29 on Friday. AutoZone has a 1 year low of $2,980.10 and a 1 year high of $4,388.11. The firm has a market cap of $70.41 billion, a PE ratio of 28.96, a PEG ratio of 1.89 and a beta of 0.41. The company has a 50 day simple moving average of $4,079.31 and a two-hundred day simple moving average of $3,817.29.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.AutoZone’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $51.58 EPS. As a group, research analysts anticipate that AutoZone will post 152.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP John Scott Murphy sold 2,860 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the sale, the vice president directly owned 2,925 shares of the company’s stock, valued at $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AutoZone

Institutional investors and hedge funds have recently bought and sold shares of the stock. AlphaCore Capital LLC bought a new stake in AutoZone in the first quarter valued at approximately $27,000. Saudi Central Bank purchased a new position in shares of AutoZone in the first quarter worth $27,000. Aspect Partners LLC raised its holdings in AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after buying an additional 7 shares during the last quarter. Bank of Jackson Hole Trust purchased a new stake in AutoZone during the 2nd quarter valued at $33,000. Finally, NewSquare Capital LLC boosted its position in AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after buying an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors.

AutoZone Company Profile

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.