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

AutoZone, Inc. (NYSE:AZO) has received an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, fifteen have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3,384.89.

Several equities research analysts have issued reports on AZO shares. Mizuho boosted their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Wells Fargo & Company upped their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. UBS Group raised their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Morgan Stanley increased their target price on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Roth Capital raised AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th.

Insider Activity at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This represents a 48.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On AutoZone

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in shares of AutoZone by 354,692.5% in the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after purchasing an additional 993,139 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in AutoZone in the second quarter valued at $424,000. The Manufacturers Life Insurance Company boosted its holdings in shares of AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after acquiring an additional 60,483 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of AutoZone by 319.0% during the second quarter. Squarepoint Ops LLC now owns 36,225 shares of the company’s stock valued at $107,375,000 after acquiring an additional 27,580 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of AutoZone during the third quarter worth about $85,127,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Down 1.7 %

NYSE:AZO opened at $3,185.71 on Thursday. AutoZone has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,416.71. The firm’s 50 day moving average is $3,182.63 and its two-hundred day moving average is $3,105.79. The company has a market cap of $53.46 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. AutoZone’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $32.55 EPS. Research analysts forecast that AutoZone will post 154.29 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.