AutoZone, Inc. (NYSE:AZO) Receives Average Recommendation of “Moderate Buy” from Brokerages

AutoZone, Inc. (NYSE:AZO) has received a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4,312.1250.

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective for the company in a research note on Monday, March 9th. TD Cowen lowered their target price on shares of AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Mizuho upped their target price on shares of AutoZone from $3,550.00 to $3,600.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Guggenheim cut their price target on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th.

Insiders Place Their Bets

In other news, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the transaction, the director owned 4,887 shares of the company’s stock, valued at $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total value of $324,173.03. Following the sale, the director directly owned 3,564 shares in the company, valued at $11,910,852.36. This trade represents a 2.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 9,447 shares of company stock worth $34,179,923. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AutoZone

Several institutional investors and hedge funds have recently modified their holdings of the stock. Turning Point Benefit Group Inc. purchased a new position in AutoZone during the third quarter valued at $25,000. Raleigh Capital Management Inc. purchased a new stake in AutoZone in the 3rd quarter worth $26,000. Torren Management LLC purchased a new stake in AutoZone in the 4th quarter worth $27,000. Transamerica Financial Advisors LLC boosted its holdings in shares of AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after purchasing an additional 4 shares during the last quarter. Finally, Global Trust Asset Management LLC grew its position in shares of AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Down 1.6%

Shares of AZO opened at $3,287.09 on Friday. The business has a 50-day simple moving average of $3,656.84 and a two-hundred day simple moving average of $3,776.69. AutoZone has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The stock has a market cap of $54.47 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.71 and a beta of 0.41.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. The firm had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $28.29 EPS. On average, equities analysts anticipate that AutoZone will post 152.94 earnings per share for the current fiscal year.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.