AutoZone (NYSE:AZO) Given Buy Rating at DA Davidson

AutoZone (NYSE:AZO)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a report released on Wednesday,Benzinga reports. They presently have a $4,300.00 price target on the stock. DA Davidson’s price objective indicates a potential upside of 38.70% from the company’s current price.

AZO has been the topic of a number of other research reports. Oppenheimer reissued an “outperform” rating and set a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Robert W. Baird dropped their price target on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Evercore reiterated an “outperform” rating on shares of AutoZone in a research report on Tuesday. Finally, Barclays upped their price objective on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,247.43.

AutoZone Trading Down 9.0%

AZO opened at $3,100.16 on Wednesday. AutoZone has a 12 month low of $3,001.00 and a 12 month high of $4,388.11. The company has a market cap of $51.08 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.74 and a beta of 0.43. The company has a 50 day moving average of $3,448.20 and a 200 day moving average of $3,579.65.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the business posted $35.36 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Research analysts forecast that AutoZone will post 149.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the business’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of AutoZone

Several institutional investors and hedge funds have recently bought and sold shares of AZO. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in AutoZone by 6.6% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock worth $21,315,000 after purchasing an additional 306 shares during the period. Summit Global Investments increased its position in AutoZone by 132.8% during the 3rd quarter. Summit Global Investments now owns 319 shares of the company’s stock valued at $1,369,000 after buying an additional 182 shares in the last quarter. Numerai GP LLC raised its holdings in AutoZone by 1,199.3% in the 3rd quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock worth $7,525,000 after purchasing an additional 1,619 shares during the period. Foundations Investment Advisors LLC bought a new stake in AutoZone during the third quarter valued at about $678,000. Finally, Caprock Group LLC bought a new position in shares of AutoZone in the third quarter worth about $4,049,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported fiscal Q3 EPS of $38.07, ahead of consensus estimates, and revenue rose 8.4% year over year to $4.84 billion, with same-store sales up 3.9% companywide and 4.1% domestically. Article Title
• Positive Sentiment: Domestic growth and commercial expansion remained strong, and management said the repair business stayed resilient even as consumers cut back elsewhere. Article Title
• Neutral Sentiment: AutoZone announced a partnership with Google Cloud, which could support longer-term operational and digital initiatives, but it was not the main driver of the stock move. Article Title
• Neutral Sentiment: Several analysts cut price targets after the report, including BMO Capital Markets to $4,000 and Robert W. Baird to $3,600, signaling some caution but still implying upside from recent levels. Article Title
• Negative Sentiment: The stock fell sharply after the company missed revenue expectations, and multiple reports pointed to margin pressure, including a non-cash LIFO impact, as well as softer international results. Article Title

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.