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

Shares of AutoZone, Inc. (NYSE:AZO) have received a consensus rating of “Moderate Buy” from the twenty-nine ratings firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $4,285.00.

A number of equities research analysts have commented on the company. TD Cowen reduced their price target on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Barclays set a $3,880.00 target price on AutoZone in a report on Thursday, January 8th. Wolfe Research lowered shares of AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. Finally, Morgan Stanley decreased their price objective on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th.

AutoZone Stock Performance

AZO stock opened at $3,702.82 on Friday. The company has a market capitalization of $61.36 billion, a P/E ratio of 25.82, a PEG ratio of 1.80 and a beta of 0.42. The company has a fifty day moving average price of $3,580.39 and a 200-day moving average price of $3,848.81. AutoZone has a 52-week low of $3,210.72 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last issued 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). The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $32.52 EPS. As a group, sell-side analysts forecast that AutoZone will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its Board of Directors has authorized a share buyback program on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at AutoZone

In other AutoZone news, Director Brian Hannasch bought 147 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the purchase, the director directly owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael A. George purchased 145 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was acquired at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the purchase, the director owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. This trade represents a 34.44% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. Insiders own 2.60% of the company’s stock.

Institutional Trading of AutoZone

Large investors have recently modified their holdings of the stock. Turning Point Benefit Group Inc. acquired a new position in shares of AutoZone during the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. acquired a new stake in AutoZone in the third quarter worth $26,000. Aspect Partners LLC increased its stake in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares in the last quarter. Global Trust Asset Management LLC raised its holdings 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 during the period. Finally, Bank of Jackson Hole Trust acquired a new position in shares of AutoZone during the second quarter valued at about $33,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

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.