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

Shares of AutoZone, Inc. (NYSE:AZO) have earned an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, twenty-one have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $4,312.1250.

Several brokerages have issued reports on AZO. Robert W. Baird cut AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 target price for the company. in a report on Monday, February 9th. Weiss Ratings restated a “hold (c+)” rating on shares of AutoZone in a report on Monday, December 29th. Citigroup upped their target price on AutoZone from $4,200.00 to $4,300.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Truist Financial dropped their target price on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, Evercore upped their target price on AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a report on Friday, February 27th.

Insiders Place Their Bets

In other news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the transaction, the vice president owned 2,627 shares of the company’s stock, valued at approximately $9,719,900. This represents a 69.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Hedge funds have recently modified their holdings of the business. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone during the 3rd quarter worth $25,000. Raleigh Capital Management Inc. purchased a new position in shares of AutoZone during the 3rd quarter worth $26,000. Torren Management LLC purchased a new position in shares of AutoZone during the 4th quarter worth $27,000. Transamerica Financial Advisors LLC grew its holdings in shares of AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after purchasing an additional 4 shares during the period. Finally, Global Trust Asset Management LLC grew its holdings in shares of AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Up 0.7%

Shares of NYSE:AZO opened at $3,608.50 on Wednesday. The business has a fifty day moving average of $3,571.32 and a two-hundred day moving average of $3,651.11. The stock has a market cap of $59.47 billion, a P/E ratio of 25.28, a PEG ratio of 1.83 and a beta of 0.41. AutoZone has a 52-week low of $3,210.72 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $28.29 EPS. On average, equities analysts anticipate that AutoZone will post 149.27 earnings per share for the current year.

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.