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

AutoZone, Inc. (NYSE:AZO) has been assigned an average rating of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $4,040.8696.

AZO has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. The Goldman Sachs Group reduced their price target on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Evercore reissued an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. Barclays boosted their price target on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Finally, UBS Group set a $4,800.00 price target on shares of AutoZone in a research report on Tuesday, March 3rd.

Insider Transactions at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Hannasch bought 165 shares of AutoZone stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the acquisition, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. 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 the company. KCM Investment Advisors LLC increased its stake in shares of AutoZone by 0.3% during the third quarter. KCM Investment Advisors LLC now owns 1,153 shares of the company’s stock worth $4,947,000 after acquiring an additional 3 shares during the period. Angeles Wealth Management LLC increased its stake in shares of AutoZone by 3.2% during the third quarter. Angeles Wealth Management LLC now owns 97 shares of the company’s stock worth $416,000 after acquiring an additional 3 shares during the period. Blair William & Co. IL increased its stake in shares of AutoZone by 0.3% during the third quarter. Blair William & Co. IL now owns 1,108 shares of the company’s stock worth $4,753,000 after acquiring an additional 3 shares during the period. Quadrant Capital Group LLC increased its stake in shares of AutoZone by 0.6% during the third quarter. Quadrant Capital Group LLC now owns 518 shares of the company’s stock worth $2,222,000 after acquiring an additional 3 shares during the period. Finally, Second Line Capital LLC increased its stake in shares of AutoZone by 2.0% during the third quarter. Second Line Capital LLC now owns 153 shares of the company’s stock worth $656,000 after acquiring an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Down 0.0%

Shares of AZO stock opened at $3,127.52 on Monday. The firm has a fifty day moving average price of $3,288.33 and a 200 day moving average price of $3,454.36. The company has a market cap of $51.07 billion, a P/E ratio of 21.50, a PEG ratio of 1.59 and a beta of 0.35. AutoZone has a 12 month low of $2,928.11 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the firm posted $35.36 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts forecast that AutoZone will post 150.51 EPS for the current year.

AutoZone announced that its Board of Directors has approved a share repurchase plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

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.