Oppenheimer upgraded shares of AutoZone (NYSE:AZO) from a market perform rating to an outperform rating in a report released on Friday morning, BenzingaRatingsTable reports. They currently have $1,225.00 target price on the stock, up from their prior target price of $900.00. Oppenheimer also issued estimates for AutoZone’s Q1 2020 earnings at $14.41 EPS, Q2 2020 earnings at $11.99 EPS, Q3 2020 earnings at $16.92 EPS, Q4 2020 earnings at $22.43 EPS, FY2020 earnings at $65.52 EPS and FY2021 earnings at $72.25 EPS.

Several other equities analysts have also issued reports on the company. Zacks Investment Research upgraded AutoZone from a hold rating to a buy rating and set a $1,156.00 price target on the stock in a research note on Friday, June 7th. Citigroup lifted their price target on AutoZone from $1,206.00 to $1,234.00 and gave the company a buy rating in a research note on Wednesday, May 22nd. Wedbush reiterated an outperform rating and issued a $1,100.00 price target (up previously from $1,030.00) on shares of AutoZone in a research note on Wednesday, May 22nd. Wells Fargo & Co reiterated a buy rating and issued a $1,140.00 price target on shares of AutoZone in a research note on Tuesday, May 21st. Finally, Credit Suisse Group set a $1,131.00 price target on AutoZone and gave the company a positive rating in a research note on Tuesday, April 23rd. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $1,037.63.

Shares of AZO opened at $1,098.79 on Friday. AutoZone has a 52-week low of $662.17 and a 52-week high of $1,135.39. The firm has a fifty day simple moving average of $1,066.69. The company has a market cap of $26.97 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.66.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $15.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $15.23 by $0.76. AutoZone had a negative return on equity of 97.19% and a net margin of 12.70%. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the company posted $13.42 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities analysts expect that AutoZone will post 62.53 earnings per share for the current year.

In related news, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $1,038.68, for a total transaction of $259,670.00. Following the sale, the director now owns 4,357 shares in the company, valued at approximately $4,525,528.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Charles Pleas III sold 9,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $1,050.40, for a total value of $9,453,600.00. Following the sale, the vice president now owns 13,365 shares in the company, valued at approximately $14,038,596. The disclosure for this sale can be found here. Insiders have sold a total of 33,157 shares of company stock worth $35,552,898 in the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in shares of AutoZone by 2.7% in the 1st quarter. FMR LLC now owns 1,441,475 shares of the company’s stock valued at $1,476,243,000 after purchasing an additional 38,062 shares during the period. Advisory Services Network LLC lifted its stake in shares of AutoZone by 22.3% in the 1st quarter. Advisory Services Network LLC now owns 2,149 shares of the company’s stock valued at $2,201,000 after purchasing an additional 392 shares during the period. Accident Compensation Corp lifted its stake in shares of AutoZone by 9.5% in the 1st quarter. Accident Compensation Corp now owns 2,316 shares of the company’s stock valued at $2,372,000 after purchasing an additional 200 shares during the period. Muhlenkamp & Co. Inc. acquired a new position in shares of AutoZone in the 1st quarter valued at about $10,825,000. Finally, Marshall Wace LLP lifted its stake in shares of AutoZone by 49.5% in the 1st quarter. Marshall Wace LLP now owns 5,011 shares of the company’s stock valued at $5,132,000 after purchasing an additional 1,659 shares during the period. Institutional investors and hedge funds own 94.24% of the company’s stock.

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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