AutoZone, Inc. (NYSE:AZO) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of AutoZone, Inc. (NYSE:AZO) have been assigned a consensus recommendation of “Buy” from the nineteen research firms that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $1,120.87.

A number of brokerages recently commented on AZO. Morgan Stanley raised their price target on AutoZone from $1,050.00 to $1,100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada raised their price target on AutoZone from $1,091.00 to $1,097.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 25th. ValuEngine lowered AutoZone from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. CIBC raised AutoZone from a “market perform” rating to an “outperform” rating in a research note on Friday, June 28th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $1,240.00 price target (up previously from $1,100.00) on shares of AutoZone in a research note on Thursday, September 19th.

In other AutoZone news, Director Earl G. Graves, Jr. sold 500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1,077.04, for a total transaction of $538,520.00. Following the completion of the transaction, the director now owns 4,607 shares of the company’s stock, valued at $4,961,923.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Several large investors have recently modified their holdings of AZO. Meridian Wealth Management LLC bought a new position in shares of AutoZone during the first quarter valued at $26,000. Coastal Investment Advisors Inc. bought a new stake in AutoZone in the 2nd quarter worth about $26,000. Virtus ETF Advisers LLC bought a new stake in AutoZone in the 2nd quarter worth about $27,000. Redhawk Wealth Advisors Inc. bought a new stake in AutoZone in the 2nd quarter worth about $31,000. Finally, First Financial Corp IN bought a new stake in AutoZone in the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 94.49% of the company’s stock.

AZO stock traded down $0.08 on Monday, reaching $1,109.92. The company’s stock had a trading volume of 149,846 shares, compared to its average volume of 277,424. The business has a fifty day simple moving average of $1,108.81 and a two-hundred day simple moving average of $1,087.60. AutoZone has a 12-month low of $716.36 and a 12-month high of $1,186.60. The firm has a market cap of $27.11 billion, a PE ratio of 17.50, a PEG ratio of 1.39 and a beta of 0.63.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $22.59 EPS for the quarter, topping analysts’ consensus estimates of $21.80 by $0.79. AutoZone had a negative return on equity of 98.67% and a net margin of 13.63%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the firm posted $18.54 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts expect that AutoZone will post 65.36 EPS for the current year.

AutoZone Company Profile

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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