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

Shares of AutoZone, Inc. (NYSE:AZO) have been given an average rating of “Moderate Buy” by the twenty-seven ratings firms that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $4,040.8696.

A number of analysts recently issued reports on AZO shares. BMO Capital Markets dropped their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Citigroup reduced their price objective on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Roth Capital dropped their target price on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Finally, Guggenheim decreased their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th.

AutoZone Stock Up 1.4%

Shares of AutoZone stock opened at $3,117.96 on Friday. The business’s fifty day moving average is $3,091.09 and its two-hundred day moving average is $3,400.36. AutoZone has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11. The firm has a market cap of $50.92 billion, a PE ratio of 21.44, a P/E/G ratio of 1.56 and a beta of 0.33.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $35.36 EPS. Equities research analysts anticipate that AutoZone will post 150.39 EPS for the current year.

AutoZone announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, June 16th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to purchase up to 3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at AutoZone

In other AutoZone news, Director Brian Hannasch purchased 165 shares of AutoZone stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Trading of AutoZone

A number of hedge funds and other institutional investors have recently made changes to their positions in AZO. Turning Point Benefit Group Inc. acquired a new position in AutoZone during the 3rd quarter worth $25,000. Torren Management LLC bought a new stake in shares of AutoZone in the 4th quarter valued at approximately $27,000. Transamerica Financial Advisors LLC lifted its stake in AutoZone by 100.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after purchasing an additional 4 shares during the last quarter. MCF Advisors LLC increased its stake in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after purchasing an additional 3 shares during the last quarter. Finally, Bard Associates Inc. bought a new position in shares of AutoZone in the 4th quarter worth about $31,000. Institutional investors own 92.74% of the company’s stock.

About AutoZone

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.