AutoZone, Inc. (NYSE:AZO) Receives Average Rating of “Buy” from Brokerages

AutoZone, Inc. (NYSE:AZO) has received a consensus recommendation of “Buy” from the twenty-four research firms that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $3,724.00.

A number of equities research analysts have weighed in on AZO shares. Roth Mkm boosted their price objective on AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Argus cut shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. StockNews.com upgraded shares of AutoZone from a “hold” rating to a “buy” rating in a research note on Monday. Mizuho increased their target price on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley boosted their price target on AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th.

Insider Transactions at AutoZone

In other news, SVP Bailey L. Childress sold 160 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 50 shares of the company’s stock, valued at $177,500. This trade represents a 76.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Domingo Hurtado sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the sale, the vice president now directly owns 159 shares in the company, valued at approximately $581,940. The trade was a 96.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,521 shares of company stock valued at $42,177,331 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Institutional Trading of AutoZone

A number of large investors have recently made changes to their positions in the stock. McIlrath & Eck LLC grew its holdings in shares of AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after buying an additional 4 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in AutoZone by 4.8% in the third quarter. SkyView Investment Advisors LLC now owns 607 shares of the company’s stock valued at $1,912,000 after purchasing an additional 28 shares during the last quarter. Anchor Investment Management LLC lifted its position in AutoZone by 5.6% during the third quarter. Anchor Investment Management LLC now owns 1,100 shares of the company’s stock worth $3,465,000 after buying an additional 58 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in AutoZone in the 3rd quarter worth about $781,000. Finally, Tidal Investments LLC grew its holdings in AutoZone by 38.6% in the 3rd quarter. Tidal Investments LLC now owns 1,192 shares of the company’s stock valued at $3,755,000 after buying an additional 332 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Trading Up 2.4 %

AutoZone stock opened at $3,704.35 on Wednesday. The stock has a market cap of $62.17 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. The company has a fifty day simple moving average of $3,601.66 and a 200-day simple moving average of $3,368.15. AutoZone has a 12-month low of $2,728.97 and a 12-month high of $3,916.81.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. As a group, sell-side analysts forecast that AutoZone will post 152.94 earnings per share for the current fiscal year.

About AutoZone

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.