AutoZone’s (AZO) Market Perform Rating Reaffirmed at Oppenheimer

Oppenheimer restated their market perform rating on shares of AutoZone (NYSE:AZO) in a report released on Wednesday morning, Benzinga reports. They currently have a $2,600.00 price objective on the stock.

Several other analysts have also recently weighed in on AZO. Truist Financial dropped their price objective on shares of AutoZone from $3,523.00 to $3,394.00 and set a buy rating for the company in a research note on Wednesday, May 22nd. Morgan Stanley dropped their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an overweight rating for the company in a research report on Wednesday, May 22nd. DA Davidson boosted their target price on shares of AutoZone from $2,770.00 to $3,025.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. Evercore ISI boosted their target price on shares of AutoZone from $3,250.00 to $3,278.00 and gave the company an outperform rating in a research report on Thursday, June 20th. Finally, Wolfe Research dropped their target price on shares of AutoZone from $3,150.00 to $3,000.00 and set an outperform rating for the company in a research report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $3,112.88.

AutoZone Stock Down 0.1 %

Shares of AutoZone stock opened at $2,933.00 on Wednesday. AutoZone has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The company has a 50-day simple moving average of $2,895.27 and a two-hundred day simple moving average of $2,859.68. The stock has a market capitalization of $50.10 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping the consensus estimate of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the previous year, the company earned $34.12 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that AutoZone will post 151.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, VP Jenna M. Bedsole bought 36 shares of AutoZone stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the acquisition, the vice president now directly owns 36 shares of the company’s stock, valued at approximately $99,255.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On AutoZone

A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in shares of AutoZone by 232,194.6% in the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after purchasing an additional 731,413 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of AutoZone by 1.3% in the 3rd quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock valued at $1,121,572,000 after purchasing an additional 5,650 shares during the last quarter. Boston Partners boosted its stake in shares of AutoZone by 1.7% in the 1st quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after purchasing an additional 6,226 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of AutoZone by 111.4% in the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after purchasing an additional 176,623 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of AutoZone in the 4th quarter valued at $678,350,000. 92.74% of the stock is owned by institutional investors.

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.