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

Shares of AutoZone, Inc. (NYSE:AZO) have been assigned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $3,112.71.

A number of equities analysts have commented on the stock. Wedbush dropped their price objective on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating for the company in a research note on Wednesday, May 22nd. Evercore ISI lowered their target price on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a report on Tuesday. Guggenheim raised their target price on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Citigroup lowered their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Barclays lowered their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd.

Insider Buying and Selling at AutoZone

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV grew its position in shares of AutoZone by 20.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 42 shares of the company’s stock worth $124,000 after buying an additional 7 shares during the last quarter. GAMMA Investing LLC grew its position in shares of AutoZone by 18.4% in the 2nd quarter. GAMMA Investing LLC now owns 122 shares of the company’s stock worth $362,000 after buying an additional 19 shares during the last quarter. Transcend Capital Advisors LLC purchased a new position in shares of AutoZone in the 2nd quarter worth approximately $373,000. HM Payson & Co. grew its position in shares of AutoZone by 6.9% in the 1st quarter. HM Payson & Co. now owns 24,266 shares of the company’s stock worth $76,478,000 after buying an additional 1,566 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of AutoZone by 1.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 15,447 shares of the company’s stock worth $49,257,000 after buying an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Down 0.9 %

Shares of NYSE:AZO opened at $2,844.88 on Thursday. AutoZone has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The stock has a market capitalization of $48.59 billion, a P/E ratio of 19.68, a PEG ratio of 1.49 and a beta of 0.71. The firm has a fifty day simple moving average of $2,889.82 and a two-hundred day simple moving average of $2,868.62.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $34.12 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, analysts expect that AutoZone will post 151.57 earnings per share for the current year.

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.