AutoZone, Inc. (NYSE:AZO) Receives $3,202.71 Consensus Target Price from Analysts

Shares of AutoZone, Inc. (NYSE:AZO) have received an average recommendation of “Moderate Buy” from the twenty analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, fourteen have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $3,232.88.

AZO has been the subject of several recent analyst reports. DA Davidson restated a “neutral” rating and issued a $3,025.00 target price on shares of AutoZone in a research report on Monday, September 30th. Mizuho raised their target price on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Wells Fargo & Company boosted their price target on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Guggenheim reissued a “buy” rating on shares of AutoZone in a report on Wednesday. Finally, BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th.

Insider Transactions at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock valued at $46,225,660 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Trading of AutoZone

Large investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in AutoZone by 311.3% during the first quarter. Cetera Investment Advisers now owns 5,803 shares of the company’s stock valued at $18,289,000 after buying an additional 4,392 shares during the period. Cetera Advisors LLC lifted its position in shares of AutoZone by 9.8% in the first quarter. Cetera Advisors LLC now owns 2,201 shares of the company’s stock worth $6,937,000 after purchasing an additional 196 shares in the last quarter. Transcend Capital Advisors LLC acquired a new stake in shares of AutoZone during the second quarter worth approximately $373,000. GAMMA Investing LLC grew its position in AutoZone by 18.4% during the second quarter. GAMMA Investing LLC now owns 122 shares of the company’s stock valued at $362,000 after purchasing an additional 19 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in AutoZone by 20.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 42 shares of the company’s stock valued at $124,000 after buying an additional 7 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

NYSE:AZO opened at $3,309.44 on Friday. The firm has a market capitalization of $55.93 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.64 and a beta of 0.71. The business has a 50 day simple moving average of $3,130.52 and a 200 day simple moving average of $3,047.40. AutoZone has a 12-month low of $2,510.00 and a 12-month high of $3,313.00.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period last year, the firm posted $46.46 EPS. The business’s revenue was up 9.0% compared to the same quarter last year. Research analysts anticipate that AutoZone will post 155.97 EPS for the current fiscal 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.