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

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

Several research analysts have recently weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $4,650.00 price objective (down from $4,750.00) on shares of AutoZone in a report on Wednesday, December 10th. Oppenheimer decreased their target price on shares of AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating for the company in a research note on Friday, January 9th. UBS Group reissued a “buy” rating and set a $4,555.00 price target on shares of AutoZone in a report on Wednesday, February 4th. Barclays set a $3,880.00 price target on AutoZone in a research note on Thursday, January 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $4,400.00 price objective on shares of AutoZone in a research report on Wednesday, December 10th.

AutoZone Trading Up 2.2%

AutoZone stock opened at $3,829.47 on Tuesday. AutoZone has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The stock has a fifty day simple moving average of $3,570.09 and a two-hundred day simple moving average of $3,837.93. The firm has a market cap of $63.45 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.78 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the company earned $32.52 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that AutoZone will post 152.94 EPS for the current fiscal year.

Insider Buying and Selling at AutoZone

In related news, Director George R. Mrkonic, Jr. sold 97 shares of the business’s 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 transaction of $324,173.03. Following the completion of the sale, the director directly owned 3,564 shares in the company, valued at approximately $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Hannasch bought 147 shares of AutoZone stock in a transaction on Thursday, December 18th. The shares were acquired at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the acquisition, the director owned 962 shares of the company’s stock, valued at $3,264,152.58. The trade was a 18.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On AutoZone

Hedge funds and other institutional investors 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. bought a new position in shares of AutoZone in the third quarter worth about $26,000. Torren Management LLC bought a new position in shares of AutoZone in the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC lifted its position 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 buying an additional 4 shares in the last quarter. Finally, Aspect Partners LLC grew its stake in shares of AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after acquiring an additional 7 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

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.