AutoZone (AZO) – Investment Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for AutoZone (NYSE: AZO):

  • 2/8/2019 – AutoZone had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $900.00 price target on the stock, up previously from $860.00.
  • 2/5/2019 – AutoZone was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “AutoZone’s revenue is majorly driven by both Do-It-Yourself (DIY) retail and commercial (DIFM) businesses. For fiscal 2019, AutoZone is expected to witness year-over-year growth on the back of new programs in commercial business, store openings and improving online presence. Moreover, it frequently opens new stores and distribution centers to improve market coverage. Over the past three months, shares of AutoZone have outperformed the industry it belongs to. However, continuous rise in capital and operating expenses due to frequent opening of distribution centers and wage expenses are concerns for AutoZone. Also, too much dependence on seasonality and weather conditions makes the company’s business vulnerable to irregular weather conditions.”
  • 2/4/2019 – AutoZone was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 1/24/2019 – AutoZone was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 1/23/2019 – AutoZone had its price target raised by analysts at Morgan Stanley from $870.00 to $900.00. They now have an “equal weight” rating on the stock.
  • 12/31/2018 – AutoZone had its “hold” rating reaffirmed by analysts at Zacks Investment Research. They now have a $922.00 price target on the stock. According to Zacks, “In the first quarter of fiscal 2019, AutoZone’s adjusted earnings and revenues surpassed the respective Zacks Consensus Estimate. Further, the figures witnessed year-over-year rise, driven by both Do-It-Yourself (DIY) retail and commercial (DIFM) businesses. For fiscal 2019, AutoZone is expected to witness year-over-year growth on the back of new programs in commercial business, store openings and improving online presence. Moreover, it frequently opens new stores and distribution centers to improve market coverage. However, continuous rise in capital and operating expenses due to frequent opening of distribution centers and wage expenses are concerns for AutoZone. Also, too much dependence on seasonality and weather conditions makes the company’s business vulnerable to irregular weather conditions. Year to date, shares of AutoZone have underperformed the industry it belongs to.”
  • 12/27/2018 – AutoZone had its price target raised by analysts at Morgan Stanley from $800.00 to $870.00.
  • 12/17/2018 – AutoZone was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $976.00 price target on the stock. According to Zacks, “In the first quarter of fiscal 2019, AutoZone’s adjusted earnings and revenues surpassed the respective Zacks Consensus Estimate. Further, the figures witnessed year-over-year rise, driven by both Do-It-Yourself (DIY) retail and commercial (DIFM) businesses. For fiscal 2019, AutoZone is expected to witness year-over-year growth on the back of new programs in commercial business, store openings and improving online presence. Moreover, it frequently opens new stores and distribution centers to improve market coverage. However, continuous rise in capital and operating expenses due to frequent opening of distribution centers and wage expenses are concerns for AutoZone. Also, too much dependence on seasonality and weather conditions makes the company’s business vulnerable to irregular weather conditions. Year to date, shares of AutoZone have underperformed the industry it belongs to.”
  • 12/14/2018 – AutoZone was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “In the first quarter of fiscal 2019, AutoZone’s adjusted earnings and revenues surpassed the respective Zacks Consensus Estimate. Further, the figures witnessed year-over-year rise, driven by both Do-It-Yourself (DIY) retail and commercial (DIFM) businesses. For fiscal 2019, AutoZone is expected to witness year-over-year growth on the back of new programs in commercial business, store openings and improving online presence. Moreover, it frequently opens new stores and distribution centers to improve market coverage. However, continuous rise in capital and operating expenses due to frequent opening of distribution centers and wage expenses are concerns for AutoZone. Also, too much dependence on seasonality and weather conditions makes the company’s business vulnerable to irregular weather conditions. Year to date, shares of AutoZone have underperformed the industry it belongs to.”

AZO stock opened at $874.08 on Monday. AutoZone, Inc. has a twelve month low of $590.76 and a twelve month high of $896.03. The stock has a market cap of $22.03 billion, a P/E ratio of 17.36, a PEG ratio of 1.22 and a beta of 0.68.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 4th. The company reported $13.47 earnings per share for the quarter, topping analysts’ consensus estimates of $12.21 by $1.26. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. AutoZone had a negative return on equity of 102.31% and a net margin of 12.49%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $10.00 earnings per share. Analysts anticipate that AutoZone, Inc. will post 59.7 EPS for the current year.

In other AutoZone news, insider Ronald B. Griffin sold 21,000 shares of AutoZone stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $844.93, for a total transaction of $17,743,530.00. Following the sale, the insider now directly owns 21,377 shares of the company’s stock, valued at $18,062,068.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William T. Giles sold 13,500 shares of AutoZone stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $870.11, for a total value of $11,746,485.00. Following the sale, the vice president now directly owns 13,119 shares in the company, valued at $11,414,973.09. The disclosure for this sale can be found here. Insiders have sold 46,790 shares of company stock worth $40,211,001 over the last ninety days. Company insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AZO. Bank of Montreal Can raised its position in AutoZone by 47.5% in the 3rd quarter. Bank of Montreal Can now owns 103,222 shares of the company’s stock worth $80,070,000 after purchasing an additional 33,226 shares during the last quarter. Polianta Ltd bought a new position in AutoZone in the 4th quarter worth approximately $1,173,000. IFM Investors Pty Ltd raised its position in AutoZone by 13.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 1,446 shares of the company’s stock worth $1,122,000 after purchasing an additional 170 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in AutoZone by 353.8% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,362 shares of the company’s stock worth $4,935,000 after purchasing an additional 4,960 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in AutoZone by 5.4% in the 3rd quarter. Teachers Advisors LLC now owns 41,373 shares of the company’s stock worth $32,093,000 after purchasing an additional 2,126 shares during the last quarter. 88.94% of the stock is currently owned by institutional investors and hedge funds.

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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