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

Shares of AutoZone, Inc. (NYSE:AZO) have been assigned a consensus rating of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, sixteen have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $3,429.84.

Several research analysts recently weighed in on AZO shares. BMO Capital Markets started coverage on shares of AutoZone in a report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price target on the stock. Citigroup boosted their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Truist Financial boosted their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Evercore ISI boosted their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, TD Cowen boosted their price target on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th.

AutoZone Price Performance

NYSE:AZO opened at $3,470.54 on Friday. The firm has a 50-day moving average of $3,307.21 and a 200-day moving average of $3,192.41. The company has a market cap of $58.24 billion, a PE ratio of 23.19, a PEG ratio of 1.92 and a beta of 0.70. AutoZone has a one year low of $2,680.96 and a one year high of $3,484.42.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $32.55 earnings per share. On average, equities research analysts expect that AutoZone will post 152.94 earnings per share for the current fiscal year.

Institutional Trading of AutoZone

A number of institutional investors have recently modified their holdings of AZO. International Assets Investment Management LLC lifted its stake in shares of AutoZone by 354,692.5% during the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after buying an additional 993,139 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after acquiring an additional 419,375 shares during the period. Norges Bank bought a new stake in AutoZone during the 4th quarter worth approximately $834,556,000. Strategic Financial Concepts LLC bought a new stake in AutoZone during the 4th quarter worth approximately $471,629,000. Finally, Wealthfront Advisers LLC increased its holdings in AutoZone by 6,083.9% during the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock worth $290,281,000 after acquiring an additional 89,190 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Company Profile

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.