AutoZone (NYSE:AZO) Receives “Buy” Rating from TD Cowen

AutoZone (NYSE:AZO)‘s stock had its “buy” rating reaffirmed by research analysts at TD Cowen in a research report issued on Thursday,Benzinga reports. They presently have a $3,700.00 price objective on the stock. TD Cowen’s price objective suggests a potential upside of 18.21% from the company’s current price.

AZO has been the subject of several other research reports. UBS Group set a $4,800.00 target price on AutoZone in a research report on Tuesday, March 3rd. DA Davidson reduced their price target on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Morgan Stanley decreased their price target on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Barclays increased their price objective on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Finally, Mizuho dropped their price objective on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Stock Up 2.2%

Shares of AZO stock traded up $68.25 during mid-day trading on Thursday, reaching $3,129.90. The company’s stock had a trading volume of 23,464 shares, compared to its average volume of 203,398. The firm has a market capitalization of $51.58 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.54 and a beta of 0.35. The company’s 50 day simple moving average is $3,404.49 and its 200-day simple moving average is $3,548.74. AutoZone has a 12-month low of $2,928.11 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 77.83%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the prior year, the company earned $35.36 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. As a group, research analysts anticipate that AutoZone will post 150.46 EPS for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Hannasch bought 165 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director owned 1,219 shares in the company, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AZO. Turning Point Benefit Group Inc. acquired a new stake in shares of AutoZone in the 3rd quarter valued at about $25,000. Torren Management LLC bought a new position in shares of AutoZone during the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC grew its stake in AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after purchasing an additional 4 shares in the last quarter. MCF Advisors LLC grew its stake in AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after purchasing an additional 3 shares in the last quarter. Finally, Bard Associates Inc. bought a new stake in AutoZone in the fourth quarter valued at about $31,000. 92.74% of the stock is currently owned by institutional investors.

About AutoZone

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.