AutoZone, Inc. (NYSE:AZO) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of AutoZone, Inc. (NYSE:AZO) have earned a consensus rating of “Moderate Buy” from the twenty-six ratings firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $3,674.36.

A number of research firms have recently commented on AZO. BMO Capital Markets cut their target price on AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 23rd. JPMorgan Chase & Co. reduced their price target on shares of AutoZone from $3,850.00 to $3,700.00 and set an “overweight” rating for the company in a report on Monday, September 28th. Mizuho cut their target price on AutoZone from $3,200.00 to $3,000.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 23rd. Guggenheim reduced their price target on AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AutoZone in a research report on Wednesday, October 21st.

Insider Activity at AutoZone

In related news, CFO Jamere Jackson sold 6,900 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the completion of the transaction, the chief financial officer directly owned 496 shares in the company, valued at $1,646,576.16. The trade was a 93.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Trading of AutoZone

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP raised its stake in AutoZone by 625.7% during the third quarter. Allworth Financial LP now owns 2,743 shares of the company’s stock worth $7,763,000 after purchasing an additional 2,365 shares during the period. Russell Investments Group Ltd. grew its stake in shares of AutoZone by 11.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 68,143 shares of the company’s stock valued at $192,861,000 after buying an additional 7,136 shares during the period. Eurizon Capital SGR S.p.A. increased its holdings in shares of AutoZone by 5.1% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 2,623 shares of the company’s stock worth $7,443,000 after buying an additional 127 shares during the last quarter. Three Bridge Wealth Advisors LLC acquired a new stake in shares of AutoZone during the 3rd quarter worth approximately $125,000. Finally, Maryland State Retirement & Pension System increased its holdings in shares of AutoZone by 13.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 993 shares of the company’s stock worth $2,810,000 after buying an additional 117 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Down 2.8%

AZO stock opened at $3,217.76 on Friday. The firm has a market capitalization of $51.77 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 1.66 and a beta of 0.37. AutoZone has a 52 week low of $2,730.65 and a 52 week high of $3,996.25. The company has a fifty day simple moving average of $2,992.64 and a two-hundred day simple moving average of $3,255.16.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same period last year, the company earned $48.71 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, analysts anticipate that AutoZone will post 170.30 EPS for the current year.

AutoZone Company Profile

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores.

Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.