AutoZone (NYSE:AZO) Earns Buy Rating from Roth Mkm

Roth Mkm reiterated their buy rating on shares of AutoZone (NYSE:AZO) in a report released on Wednesday, Benzinga reports. The brokerage currently has a $3,634.00 target price on the stock.

A number of other equities analysts also recently commented on the company. Mizuho lifted their price objective on AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Morgan Stanley boosted their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Guggenheim raised their price objective on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and decreased their target price for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Finally, Oppenheimer restated a “market perform” rating and set a $2,600.00 price target on shares of AutoZone in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,202.71.

AutoZone Stock Up 0.8 %

Shares of AZO opened at $3,182.07 on Wednesday. The firm’s fifty day moving average is $3,133.09 and its two-hundred day moving average is $3,008.48. The stock has a market cap of $54.36 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. AutoZone has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the prior year, the company posted $46.46 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. As a group, research analysts anticipate that AutoZone will post 157.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $43,055,777.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock worth $46,225,660 in the last ninety days. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AutoZone

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its position in shares of AutoZone by 35.3% during the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock worth $11,138,000 after acquiring an additional 922 shares in the last quarter. Sei Investments Co. increased its stake in AutoZone by 60.7% in the first quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock valued at $70,326,000 after purchasing an additional 8,427 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in AutoZone by 12.9% during the first quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock worth $11,059,000 after purchasing an additional 401 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in AutoZone during the second quarter worth approximately $2,816,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of AutoZone during the 4th quarter worth approximately $879,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

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.