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

AutoZone, Inc. (NYSE:AZO) has been assigned an average recommendation of “Moderate Buy” from the twenty-nine analysts that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $4,280.6250.

A number of research analysts have recently weighed in on the company. Robert W. Baird downgraded AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price target on the stock. in a report on Monday, February 9th. The Goldman Sachs Group upped their target price on AutoZone from $4,234.00 to $4,274.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Jefferies Financial Group restated a “buy” rating and set a $4,400.00 price target on shares of AutoZone in a report on Wednesday, December 10th. Guggenheim lowered their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th.

Insider Activity

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the transaction, the vice president directly owned 2,627 shares of the company’s stock, valued at $9,719,900. This represents a 69.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the sale, the director owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have acquired 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Avantax Advisory Services Inc. increased its stake in AutoZone by 8.3% in the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock valued at $10,179,000 after purchasing an additional 210 shares in the last quarter. Braun Stacey Associates Inc. grew its holdings in shares of AutoZone by 7.8% in the 3rd quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock valued at $36,145,000 after buying an additional 613 shares during the period. Summit Global Investments grew its holdings in shares of AutoZone by 132.8% in 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 during the period. Foundations Investment Advisors LLC bought a new stake in shares of AutoZone in the 3rd quarter valued at $678,000. Finally, Exchange Traded Concepts LLC raised its stake in AutoZone by 68.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock worth $6,251,000 after buying an additional 591 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

AZO stock opened at $3,751.68 on Tuesday. The firm has a market capitalization of $62.17 billion, a P/E ratio of 26.16, a P/E/G ratio of 1.78 and a beta of 0.41. AutoZone has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The company’s 50 day simple moving average is $3,594.55 and its 200-day simple moving average is $3,830.52.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the firm posted $32.52 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts predict that AutoZone will post 152.94 EPS for the current fiscal year.

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.