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

Shares of AutoZone, Inc. (NYSE:AZO) have been given a consensus recommendation of “Moderate Buy” by the twenty-four research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, fifteen have given a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3,651.91.

Several equities research analysts recently issued reports on AZO shares. Citigroup lifted their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. BMO Capital Markets boosted their target price on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. Evercore ISI increased their price target on AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Mizuho boosted their price objective on AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. Finally, Roth Mkm increased their target price on AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th.

Insider Buying and Selling

In related news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the transaction, the senior vice president now directly owns 50 shares of the company’s stock, valued at $177,500. This represents a 76.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AutoZone

Institutional investors have recently made changes to their positions in the stock. Summit Global Investments raised its stake in AutoZone by 36.5% during the 3rd quarter. Summit Global Investments now owns 187 shares of the company’s stock worth $589,000 after buying an additional 50 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of AutoZone during the third quarter worth approximately $36,000. Assetmark Inc. lifted its holdings in shares of AutoZone by 2.1% in the 3rd quarter. Assetmark Inc. now owns 1,697 shares of the company’s stock worth $5,344,000 after purchasing an additional 35 shares in the last quarter. Axxcess Wealth Management LLC grew its position in AutoZone by 1.5% in the 3rd quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock valued at $841,000 after purchasing an additional 4 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in AutoZone during the 3rd quarter valued at $66,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO opened at $3,685.10 on Tuesday. The firm has a 50 day simple moving average of $3,375.95 and a two-hundred day simple moving average of $3,233.66. The company has a market cap of $61.84 billion, a P/E ratio of 24.62, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone has a one year low of $2,728.97 and a one year high of $3,704.43.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. On average, analysts expect that AutoZone will post 152.94 earnings per share for the current fiscal year.

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.