Oppenheimer Reaffirms Buy Rating for AutoZone (NYSE:AZO)

Oppenheimer restated their buy rating on shares of AutoZone (NYSE:AZO) in a report issued on Tuesday, AnalystRatings.com reports. Oppenheimer currently has a $1,500.00 price objective on the stock.

AZO has been the topic of a number of other reports. DA Davidson started coverage on shares of AutoZone in a research note on Friday, August 14th. They set a buy rating and a $1,380.00 price objective on the stock. Wells Fargo & Company reiterated an overweight rating and set a $1,375.00 price objective (up from $1,300.00) on shares of AutoZone in a research note on Monday, September 14th. Atlantic Securities upgraded shares of AutoZone from a neutral rating to an overweight rating and set a $1,425.00 price objective on the stock in a research note on Tuesday, September 8th. Cfra restated a strong-buy rating and issued a $1,275.00 price target (up from $1,250.00) on shares of AutoZone in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of AutoZone from $1,190.00 to $1,265.00 and gave the company an overweight rating in a research note on Wednesday, May 27th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. AutoZone has an average rating of Buy and an average price target of $1,301.56.

Shares of AutoZone stock opened at $1,129.63 on Tuesday. The company has a market capitalization of $26.38 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.75 and a beta of 0.92. AutoZone has a 12-month low of $684.91 and a 12-month high of $1,274.41. The firm’s 50-day moving average price is $1,203.16 and its two-hundred day moving average price is $1,088.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 22nd. The company reported $30.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $24.74 by $6.19. The firm had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $3.87 billion. AutoZone had a net margin of 13.72% and a negative return on equity of 115.57%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. On average, research analysts forecast that AutoZone will post 70.36 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in AZO. Public Employees Retirement Association of Colorado raised its holdings in AutoZone by 5.0% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 4,464 shares of the company’s stock worth $3,777,000 after purchasing an additional 213 shares during the last quarter. Commerce Bank raised its holdings in AutoZone by 25.4% during the 1st quarter. Commerce Bank now owns 853 shares of the company’s stock worth $722,000 after purchasing an additional 173 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in AutoZone by 33.3% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 1,234 shares of the company’s stock worth $1,044,000 after purchasing an additional 308 shares during the last quarter. National Asset Management Inc. bought a new position in AutoZone during the 1st quarter worth approximately $342,000. Finally, Mutual of America Capital Management LLC raised its holdings in AutoZone by 0.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 4,372 shares of the company’s stock worth $3,699,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 88.62% 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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