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

Shares of AutoZone, Inc. (NYSE:AZO) have earned an average rating of “Moderate Buy” from the twenty-four research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, fifteen have issued a buy recommendation and four have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $3,651.91.

AZO has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Guggenheim raised their price objective on AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Barclays boosted their target price on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Mizuho lifted their price target on AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Finally, Evercore ISI upped their price objective on AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th.

Insider Transactions at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 136 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total value of $482,810.88. Following the sale, the senior vice president now owns 403 shares of the company’s stock, valued at $1,430,682.24. This trade represents a 25.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Bailey L. Childress sold 160 shares of AutoZone stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the sale, the senior vice president now owns 50 shares of the company’s stock, valued at approximately $177,500. This trade represents a 76.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,871 shares of company stock valued at $6,720,811. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AutoZone

Several hedge funds have recently bought and sold shares of AZO. Franklin Resources Inc. lifted its holdings in shares of AutoZone by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock worth $141,717,000 after acquiring an additional 6,898 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of AutoZone by 29.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock valued at $111,455,000 after purchasing an additional 7,922 shares during the last quarter. Silverleafe Capital Partners LLC raised its holdings in shares of AutoZone by 1.0% during the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock valued at $8,460,000 after buying an additional 26 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its position in AutoZone by 592.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock worth $29,012,000 after buying an additional 7,879 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Price Performance

Shares of AZO opened at $3,553.69 on Tuesday. AutoZone has a 1 year low of $2,728.97 and a 1 year high of $3,704.43. The business has a 50-day moving average of $3,401.49 and a 200-day moving average of $3,244.10. The company has a market capitalization of $59.64 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, sell-side analysts anticipate that AutoZone will post 152.94 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.