AutoZone, Inc. (NYSE:AZO) Receives $1,059.69 Average PT from Brokerages

Shares of AutoZone, Inc. (NYSE:AZO) have received a consensus rating of “Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $1,076.67.

Several research analysts have recently issued reports on AZO shares. Oppenheimer upgraded shares of AutoZone from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $900.00 to $1,225.00 in a research note on Friday, June 28th. Credit Suisse Group set a $1,131.00 target price on AutoZone and gave the stock a “positive” rating in a research note on Tuesday, April 23rd. They noted that the move was a valuation call. Wedbush restated an “outperform” rating and set a $1,100.00 target price (up from $1,030.00) on shares of AutoZone in a research note on Wednesday, May 22nd. Wells Fargo & Co restated a “buy” rating and set a $1,140.00 target price on shares of AutoZone in a research note on Tuesday, May 21st. Finally, Citigroup upped their target price on AutoZone from $1,206.00 to $1,234.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd.

In other news, insider Richard Craig Smith sold 2,800 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $1,120.00, for a total transaction of $3,136,000.00. Following the completion of the transaction, the insider now directly owns 5,800 shares in the company, valued at $6,496,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $1,021.86, for a total transaction of $255,465.00. Following the transaction, the director now owns 4,357 shares of the company’s stock, valued at $4,452,244.02. The disclosure for this sale can be found here. Insiders have sold 32,907 shares of company stock valued at $35,293,228 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in AutoZone by 1.7% in the 1st quarter. BlackRock Inc. now owns 1,916,950 shares of the company’s stock worth $1,963,187,000 after acquiring an additional 32,263 shares in the last quarter. FMR LLC lifted its stake in AutoZone by 2.7% in the first quarter. FMR LLC now owns 1,441,475 shares of the company’s stock worth $1,476,243,000 after purchasing an additional 38,062 shares during the last quarter. Investec Asset Management LTD lifted its stake in AutoZone by 157.0% in the second quarter. Investec Asset Management LTD now owns 648,507 shares of the company’s stock worth $271,780,000 after purchasing an additional 396,216 shares during the last quarter. Geode Capital Management LLC increased its position in shares of AutoZone by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 353,880 shares of the company’s stock valued at $296,182,000 after acquiring an additional 14,661 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of AutoZone by 27.8% in the first quarter. Janus Henderson Group PLC now owns 333,246 shares of the company’s stock valued at $341,286,000 after acquiring an additional 72,455 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

AZO stock traded down $26.32 during midday trading on Wednesday, reaching $1,069.80. 5,718 shares of the company’s stock traded hands, compared to its average volume of 206,270. The business has a 50-day moving average of $1,134.81. AutoZone has a 1-year low of $705.01 and a 1-year high of $1,186.60. The stock has a market cap of $26.89 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 1.44 and a beta of 0.65.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 21st. The company reported $15.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.23 by $0.76. AutoZone had a negative return on equity of 97.19% and a net margin of 12.70%. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business earned $13.42 earnings per share. AutoZone’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts anticipate that AutoZone will post 62.51 EPS for the current year.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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