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

Shares of AutoZone, Inc. (NYSE:AZO) have been given a consensus recommendation of “Moderate Buy” by the twenty-nine brokerages that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $4,271.25.

AZO has been the subject of a number of research analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $4,650.00 price target (down previously from $4,750.00) on shares of AutoZone in a research note on Wednesday, December 10th. Citigroup cut their target price on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of AutoZone in a research note on Monday, December 29th. Raymond James Financial lowered their price objective on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a report on Wednesday, December 10th. Finally, Mizuho reaffirmed a “neutral” rating and set a $3,550.00 price objective (down from $3,850.00) on shares of AutoZone in a research report on Monday, January 5th.

Insider Activity at AutoZone

In related news, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction on 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 sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the transaction, the vice president owned 2,627 shares of the company’s stock, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On AutoZone

A number of institutional investors have recently modified their holdings of the stock. May Hill Capital LLC boosted its stake in AutoZone by 5.5% in the 2nd quarter. May Hill Capital LLC now owns 58 shares of the company’s stock worth $215,000 after purchasing an additional 3 shares in the last quarter. NewSquare Capital LLC raised its holdings in AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after buying an additional 3 shares during the last quarter. Westpac Banking Corp lifted its stake in shares of AutoZone by 2.6% in the second quarter. Westpac Banking Corp now owns 118 shares of the company’s stock worth $438,000 after buying an additional 3 shares in the last quarter. AlphaCore Capital LLC lifted its stake in shares of AutoZone by 42.9% in the second quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock worth $37,000 after buying an additional 3 shares in the last quarter. Finally, L2 Asset Management LLC grew its holdings in shares of AutoZone by 4.2% during the second quarter. L2 Asset Management LLC now owns 75 shares of the company’s stock valued at $278,000 after buying an additional 3 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,829.47 on Tuesday. AutoZone has a 1 year low of $3,210.72 and a 1 year high of $4,388.11. The company has a market cap of $63.45 billion, a PE ratio of 26.70, a P/E/G ratio of 1.78 and a beta of 0.41. The stock’s 50-day moving average is $3,570.09 and its 200 day moving average is $3,837.93.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the business posted $32.52 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts expect that AutoZone will post 152.94 EPS 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.