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

AutoZone, Inc. (NYSE:AZO) has been given a consensus recommendation of “Moderate Buy” by the eighteen brokerages that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $3,115.24.

Several analysts have recently weighed in on the stock. Truist Financial lifted their price objective on shares of AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Morgan Stanley upped their price target on AutoZone from $2,900.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. raised their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Finally, UBS Group upped their target price on AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th.

Insiders Place Their Bets

In other news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the sale, the vice president now directly owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the transaction, the vice president now directly owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Philip B. Daniele sold 4,190 shares of AutoZone stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the completion of the sale, the chief executive officer now directly owns 900 shares in the company, valued at approximately $2,845,512. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,990 shares of company stock valued at $50,335,193. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its position in AutoZone by 2.0% during the third quarter. Venturi Wealth Management LLC now owns 202 shares of the company’s stock worth $513,000 after purchasing an additional 4 shares during the period. Plancorp LLC grew its stake in AutoZone by 3.0% in the 3rd quarter. Plancorp LLC now owns 136 shares of the company’s stock valued at $345,000 after buying an additional 4 shares in the last quarter. Alcosta Capital Management Inc. raised its holdings in AutoZone by 0.3% during the 3rd quarter. Alcosta Capital Management Inc. now owns 1,255 shares of the company’s stock valued at $3,188,000 after acquiring an additional 4 shares during the period. Hohimer Wealth Management LLC boosted its holdings in shares of AutoZone by 1.1% in the third quarter. Hohimer Wealth Management LLC now owns 361 shares of the company’s stock worth $917,000 after acquiring an additional 4 shares during the period. Finally, Summit Trail Advisors LLC grew its position in shares of AutoZone by 3.8% in the fourth quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock valued at $283,000 after purchasing an additional 4 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.6 %

Shares of NYSE AZO opened at $2,917.50 on Wednesday. The company has a market capitalization of $50.53 billion, a PE ratio of 20.54, a P/E/G ratio of 1.45 and a beta of 0.72. AutoZone has a twelve month low of $2,277.88 and a twelve month high of $3,256.37. The firm has a fifty day simple moving average of $3,036.48 and a 200 day simple moving average of $2,822.73.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the previous year, the business earned $24.64 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts expect that AutoZone will post 152.4 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.