AutoZone (NYSE:AZO) Given Outperform Rating at Oppenheimer

Oppenheimer reissued their outperform rating on shares of AutoZone (NYSE:AZO) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $4,300.00 target price on the stock, up from their previous target price of $4,150.00.

Several other research firms also recently commented on AZO. Robert W. Baird downgraded AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price objective for the company. in a report on Monday, February 9th. Raymond James Financial cut their target price on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a report on Wednesday, December 10th. Roth Mkm reduced their price target on shares of AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Mizuho boosted their price target on shares of AutoZone from $3,550.00 to $3,600.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group upped their price objective on shares of AutoZone from $4,274.00 to $4,345.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4,318.38.

AutoZone Price Performance

AZO stock opened at $3,724.43 on Tuesday. The company’s 50-day moving average is $3,633.67 and its 200-day moving average is $3,811.04. The stock has a market capitalization of $61.71 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.88 and a beta of 0.41. AutoZone has a 1 year low of $3,210.72 and a 1 year high of $4,388.11.

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

Insider Activity at AutoZone

In related news, Director Michael A. George purchased 145 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the acquisition, the director owned 566 shares of the company’s stock, valued at $1,923,341.58. This represents a 34.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares of the company’s stock, valued at $16,102,665. The trade was a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,447 shares of company stock valued at $34,179,923 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Turning Point Benefit Group Inc. purchased a new stake in AutoZone in the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. purchased a new position in shares of AutoZone in the 3rd quarter worth approximately $26,000. Torren Management LLC purchased a new position in shares of AutoZone in the 4th quarter worth approximately $27,000. Transamerica Financial Advisors LLC grew its holdings in shares of AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after acquiring an additional 4 shares in the last quarter. Finally, Global Trust Asset Management LLC grew its holdings in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after acquiring an additional 6 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Company Profile

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.