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

AutoZone, Inc. (NYSE:AZO) has received an average recommendation of “Moderate Buy” from the thirty-two brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, twenty-seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $4,398.3077.

A number of analysts have recently weighed in on the company. Barclays cut their target price on AutoZone from $4,510.00 to $4,318.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley upped their price objective on shares of AutoZone from $4,000.00 to $4,700.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. BNP Paribas Exane reduced their price objective on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research note on Wednesday. Guggenheim decreased their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Truist Financial cut their price target on shares of AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating for the company in a report on Wednesday.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP K. Michelle Borninkhof sold 300 shares of AutoZone stock in a transaction on Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the completion of the transaction, the senior vice president owned 416 shares in the company, valued at approximately $1,570,400. The trade was a 41.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 5,693 shares of company stock valued at $23,259,891. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AZO. Flputnam Investment Management Co. grew its holdings in shares of AutoZone by 3.2% during the 1st quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock valued at $366,000 after purchasing an additional 3 shares during the last quarter. McLean Asset Management Corp boosted its position in AutoZone by 3.6% in the second quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock valued at $320,000 after buying an additional 3 shares in the last quarter. NBC Securities Inc. boosted its position in AutoZone by 0.9% in the second quarter. NBC Securities Inc. now owns 347 shares of the company’s stock valued at $1,288,000 after buying an additional 3 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of AutoZone by 4.3% during the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock worth $267,000 after buying an additional 3 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in shares of AutoZone by 0.3% during the second quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock worth $4,377,000 after buying an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Down 2.0%

Shares of NYSE:AZO opened at $3,425.96 on Thursday. AutoZone has a 12-month low of $3,162.00 and a 12-month high of $4,388.11. The company’s 50 day moving average price is $3,870.19 and its two-hundred day moving average price is $3,899.19. The firm has a market cap of $56.97 billion, a PE ratio of 23.89, a PEG ratio of 1.67 and a beta of 0.40.

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

AutoZone declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.