AutoZone (NYSE:AZO) Earns Outperform Rating from Analysts at BMO Capital Markets

Equities research analysts at BMO Capital Markets assumed coverage on shares of AutoZone (NYSE:AZO) in a research report issued on Friday, Marketbeat reports. The firm set an “outperform” rating and a $3,700.00 price target on the stock. BMO Capital Markets’ target price indicates a potential upside of 9.78% from the company’s previous close.

Several other research firms also recently weighed in on AZO. UBS Group lifted their target price on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. BNP Paribas upgraded AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Morgan Stanley increased their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Guggenheim lifted their price target on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a report on Wednesday. Finally, DA Davidson reissued a “neutral” rating and issued a $3,025.00 price objective on shares of AutoZone in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3,360.47.

AutoZone Stock Up 0.9 %

Shares of NYSE:AZO opened at $3,370.27 on Friday. The stock has a market capitalization of $56.97 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71. The firm’s 50 day moving average price is $3,155.07 and its 200-day moving average price is $3,066.94. AutoZone has a twelve month low of $2,510.00 and a twelve month high of $3,416.71.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the business posted $32.55 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Analysts expect that AutoZone will post 154.29 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AutoZone

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in AutoZone during the 3rd quarter worth about $36,000. Meeder Asset Management Inc. lifted its position in shares of AutoZone by 50.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the period. Carolina Wealth Advisors LLC bought a new position in shares of AutoZone during the third quarter valued at approximately $47,000. Darwin Wealth Management LLC bought a new position in shares of AutoZone during the third quarter valued at approximately $47,000. Finally, ORG Partners LLC purchased a new position in AutoZone during the second quarter valued at approximately $50,000. 92.74% of the stock is owned by institutional investors.

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.