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

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

Several equities analysts have weighed in on AZO shares. UBS Group set a $4,800.00 target price on AutoZone in a report on Tuesday, March 3rd. BMO Capital Markets cut their target price on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Mizuho cut their target price on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Citigroup cut their target price on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Finally, Robert W. Baird cut their target price on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th.

AutoZone Trading Up 1.2%

Shares of NYSE:AZO opened at $3,065.75 on Thursday. AutoZone has a 1 year low of $2,928.11 and a 1 year high of $4,388.11. The business has a fifty day simple moving average of $3,404.49 and a 200 day simple moving average of $3,548.74. The firm has a market cap of $50.52 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 1.54 and a beta of 0.35.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 77.83% and a net margin of 12.40%.The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the company earned $35.36 earnings per share. AutoZone’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that AutoZone will post 150.46 EPS for the current year.

Insider Activity

In related news, Director Brian Hannasch bought 165 shares of the business’s stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of the firm’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 transaction, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On AutoZone

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its position in shares of AutoZone by 3.2% in the first quarter. Parallel Advisors LLC now owns 255 shares of the company’s stock valued at $862,000 after purchasing an additional 8 shares during the last quarter. First Nebraska Trust Co acquired a new stake in shares of AutoZone in the first quarter valued at about $1,996,000. Asset Dedication LLC grew its position in shares of AutoZone by 150.0% in the first quarter. Asset Dedication LLC now owns 10 shares of the company’s stock valued at $34,000 after purchasing an additional 6 shares during the last quarter. Carlson Capital L.P. grew its position in shares of AutoZone by 200.0% in the first quarter. Carlson Capital L.P. now owns 600 shares of the company’s stock valued at $2,027,000 after purchasing an additional 400 shares during the last quarter. Finally, Groupama Asset Managment grew its position in shares of AutoZone by 16.8% in the first quarter. Groupama Asset Managment now owns 153 shares of the company’s stock valued at $517,000 after purchasing an additional 22 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

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.