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

Shares of AutoZone, Inc. (NYSE:AZO) have earned an average rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, fifteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $3,384.89.

Several brokerages have recently commented on AZO. UBS Group boosted their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Guggenheim upped their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Mizuho lifted their target price on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. BNP Paribas raised AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Citigroup raised their price target on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th.

AutoZone Stock Up 1.3 %

Shares of AZO opened at $3,283.48 on Thursday. The company has a 50-day moving average price of $3,177.30 and a two-hundred day moving average price of $3,093.61. The stock has a market cap of $55.50 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 1.73 and a beta of 0.71. AutoZone has a 12 month low of $2,510.00 and a 12 month high of $3,416.71.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 10th. The company reported $32.52 EPS 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 company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the business earned $32.55 EPS. AutoZone’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that AutoZone will post 154.29 EPS for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This trade represents a 48.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its stake in AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after purchasing an additional 993,139 shares in the last quarter. Geode Capital Management LLC lifted its holdings in AutoZone by 1.8% during the third quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after acquiring an additional 7,365 shares in the last quarter. Marshfield Associates grew its stake in AutoZone by 0.5% in the third quarter. Marshfield Associates now owns 169,586 shares of the company’s stock valued at $534,204,000 after acquiring an additional 796 shares during the period. Legal & General Group Plc increased its holdings in shares of AutoZone by 2.3% in the second quarter. Legal & General Group Plc now owns 150,698 shares of the company’s stock worth $446,684,000 after acquiring an additional 3,382 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of AutoZone during the second quarter worth about $424,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

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.