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

Shares of AutoZone, Inc. (NYSE:AZO) have been assigned an average recommendation of “Buy” from the eighteen analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $3,182.33.

AZO has been the subject of several analyst reports. Evercore ISI increased their price objective on AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. UBS Group boosted their price target on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Oppenheimer reaffirmed a “market perform” rating and issued a $2,600.00 price objective on shares of AutoZone in a research report on Wednesday, June 26th. Finally, Morgan Stanley lifted their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th.

Insider Buying and Selling

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock valued at $46,225,660 over the last 90 days. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Creative Planning increased its stake in shares of AutoZone by 4.0% in the 3rd quarter. Creative Planning now owns 2,519 shares of the company’s stock valued at $7,933,000 after purchasing an additional 97 shares in the last quarter. CX Institutional grew its holdings in AutoZone by 3.7% in the third quarter. CX Institutional now owns 198 shares of the company’s stock valued at $624,000 after purchasing an additional 7 shares during the period. Novare Capital Management LLC grew its holdings in AutoZone by 4.3% in the third quarter. Novare Capital Management LLC now owns 294 shares of the company’s stock valued at $926,000 after purchasing an additional 12 shares during the period. Crestmont Private Wealth LLC increased its position in shares of AutoZone by 8.1% in the third quarter. Crestmont Private Wealth LLC now owns 133 shares of the company’s stock valued at $419,000 after buying an additional 10 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of AutoZone by 208.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 962 shares of the company’s stock worth $3,030,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

AZO opened at $3,129.78 on Friday. The firm has a market capitalization of $53.46 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. The business’s 50-day moving average is $3,131.44 and its two-hundred day moving average is $3,009.65. AutoZone has a 1 year low of $2,375.35 and a 1 year high of $3,256.37.

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