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

AutoZone, Inc. (NYSE:AZO) has received an average rating of “Moderate Buy” from the thirty-two research firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, twenty-four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $4,310.12.

Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Cowen reiterated a “buy” rating on shares of AutoZone in a report on Thursday, September 18th. Barclays set a $3,880.00 price objective on AutoZone in a report on Thursday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AutoZone in a research note on Monday, December 29th. Finally, Baird R W raised shares of AutoZone to a “strong-buy” rating in a research note on Thursday, December 4th.

AutoZone Trading Up 3.1%

AZO stock opened at $3,417.62 on Monday. The company’s 50 day moving average is $3,617.96 and its 200 day moving average is $3,857.72. The stock has a market cap of $56.63 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 1.63 and a beta of 0.42. AutoZone has a 1-year low of $3,162.00 and a 1-year high of $4,388.11.

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

AutoZone declared that its board has approved a stock buyback plan on Wednesday, October 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Jamere Jackson bought 55 shares of the stock in a transaction dated Wednesday, December 10th. The stock was bought at an average price of $3,413.50 per share, with a total value of $187,742.50. Following the purchase, the chief financial officer owned 488 shares in the company, valued at approximately $1,665,788. The trade was a 12.70% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Hannasch purchased 147 shares of AutoZone stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the transaction, the director owned 962 shares in the company, valued at $3,264,152.58. The trade was a 18.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 3,180 shares valued at $12,465,312. Company insiders own 2.60% of the company’s stock.

Institutional Trading of AutoZone

A number of institutional investors have recently made changes to their positions in AZO. Chickasaw Capital Management LLC grew its holdings in shares of AutoZone by 1.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,972 shares of the company’s stock worth $6,688,000 after purchasing an additional 29 shares during the last quarter. SG Americas Securities LLC boosted its position in AutoZone by 1,226.5% during the 4th quarter. SG Americas Securities LLC now owns 15,069 shares of the company’s stock valued at $51,107,000 after buying an additional 13,933 shares during the period. Assenagon Asset Management S.A. grew its holdings in AutoZone by 50.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,223 shares of the company’s stock worth $65,195,000 after acquiring an additional 6,484 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in AutoZone by 4.1% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 179 shares of the company’s stock worth $607,000 after acquiring an additional 7 shares during the last quarter. Finally, Everpar Advisors LLC increased its position in shares of AutoZone by 30.2% in the fourth quarter. Everpar Advisors LLC now owns 82 shares of the company’s stock valued at $278,000 after acquiring an additional 19 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Company Profile

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.