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

Shares of AutoZone, Inc. (NYSE:AZO) have been given an average rating of “Moderate Buy” by the twenty-two brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $3,429.84.

A number of equities analysts have recently commented on AZO shares. Evercore ISI increased their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Truist Financial increased their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Citigroup increased their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Guggenheim upped their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Argus upped their price objective on shares of AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd.

Institutional Investors Weigh In On AutoZone

Institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in AutoZone during the 4th quarter valued at $29,000. Flagship Wealth Advisors LLC purchased a new stake in shares of AutoZone in the 4th quarter worth about $32,000. Harbour Investments Inc. lifted its position in shares of AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of AutoZone in the 3rd quarter worth about $36,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of AutoZone in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Up 1.1 %

AutoZone stock opened at $3,470.54 on Friday. The firm’s 50 day simple moving average is $3,307.21 and its 200 day simple moving average is $3,192.41. The firm has a market capitalization of $58.24 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.70. AutoZone has a 1-year low of $2,680.96 and a 1-year high of $3,484.42.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. AutoZone’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $32.55 EPS. Research analysts forecast that AutoZone will post 152.94 earnings per share for the current year.

AutoZone Company Profile

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.