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

Shares of AutoZone, Inc. (NYSE:AZO) have received a consensus rating of “Moderate Buy” from the twenty-eight analysts that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $4,312.1250.

A number of equities analysts have recently commented on AZO shares. TD Cowen reduced their price objective on shares of AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Oppenheimer reiterated an “outperform” rating and set a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Morgan Stanley increased their price target on AutoZone from $4,000.00 to $4,020.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. DA Davidson set a $4,300.00 price target on AutoZone in a research report on Thursday, March 5th. Finally, The Goldman Sachs Group increased their price objective on AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a report on Wednesday, March 4th.

AutoZone Trading Down 1.8%

Shares of NYSE AZO opened at $3,318.09 on Friday. The company has a fifty day moving average price of $3,492.44 and a 200 day moving average price of $3,597.74. The firm has a market cap of $54.68 billion, a PE ratio of 23.25, a PEG ratio of 1.70 and a beta of 0.43. AutoZone has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the firm posted $28.29 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts forecast that AutoZone will post 148.93 EPS for the current year.

Insider Activity at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AutoZone

Institutional investors have recently bought and sold shares of the business. Quantinno Capital Management LP boosted its stake in shares of AutoZone by 31.2% during the 1st quarter. Quantinno Capital Management LP now owns 12,665 shares of the company’s stock worth $42,782,000 after acquiring an additional 3,010 shares during the period. SummitTX Capital L.P. raised its stake in AutoZone by 1,411.2% in the 1st quarter. SummitTX Capital L.P. now owns 2,297 shares of the company’s stock valued at $7,759,000 after acquiring an additional 2,145 shares during the period. Delta Global Management LP acquired a new stake in AutoZone during the 1st quarter valued at $2,256,000. OMERS ADMINISTRATION Corp boosted its position in AutoZone by 24.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 898 shares of the company’s stock worth $3,033,000 after purchasing an additional 178 shares during the period. Finally, Alua Capital Management LP boosted its position in AutoZone by 18.5% during the first quarter. Alua Capital Management LP now owns 32,053 shares of the company’s stock worth $108,268,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.