AutoZone (NYSE:AZO) Given “Buy” Rating at UBS Group

UBS Group restated their buy rating on shares of AutoZone (NYSE:AZO) in a research report report published on Wednesday morning, BenzingaRatingsTable reports.

Other research analysts have also recently issued reports about the stock. Nomura reissued a buy rating and set a $1,250.00 price objective on shares of AutoZone in a report on Tuesday. Oppenheimer reissued an outperform rating and set a $1,415.00 price objective (up from $1,225.00) on shares of AutoZone in a report on Wednesday. Morgan Stanley reissued an equal weight rating on shares of AutoZone in a report on Wednesday. Wolfe Research raised shares of AutoZone from an underperform rating to a peer perform rating in a report on Tuesday. Finally, Citigroup boosted their price objective on shares of AutoZone from $1,357.00 to $1,363.00 and gave the company a buy rating in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $1,237.07.

Shares of NYSE AZO traded down $5.89 during midday trading on Wednesday, hitting $1,238.94. The stock had a trading volume of 8,074 shares, compared to its average volume of 180,759. The business’s 50 day moving average is $1,163.28 and its 200-day moving average is $1,121.09. The company has a market cap of $27.85 billion, a P/E ratio of 19.49, a PEG ratio of 1.65 and a beta of 0.62. AutoZone has a 52 week low of $798.41 and a 52 week high of $1,274.41.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 10th. The company reported $14.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $13.74 by $0.56. AutoZone had a net margin of 13.63% and a negative return on equity of 98.67%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm posted $13.47 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. Sell-side analysts expect that AutoZone will post 65.53 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Boston Partners increased its stake in shares of AutoZone by 150.3% in the second quarter. Boston Partners now owns 433,268 shares of the company’s stock worth $476,624,000 after purchasing an additional 260,171 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of AutoZone by 614.8% during the second quarter. Nuveen Asset Management LLC now owns 195,179 shares of the company’s stock worth $214,593,000 after acquiring an additional 167,873 shares during the last quarter. Bank of Montreal Can boosted its position in shares of AutoZone by 136.1% during the second quarter. Bank of Montreal Can now owns 261,742 shares of the company’s stock worth $287,776,000 after acquiring an additional 150,870 shares during the last quarter. BlackRock Inc. boosted its position in shares of AutoZone by 7.6% during the second quarter. BlackRock Inc. now owns 2,063,593 shares of the company’s stock worth $2,268,859,000 after acquiring an additional 146,643 shares during the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of AutoZone by 28.0% during the second quarter. APG Asset Management N.V. now owns 299,990 shares of the company’s stock worth $289,629,000 after acquiring an additional 65,700 shares during the last quarter. 93.64% of the stock is owned by institutional investors and hedge funds.

AutoZone Company Profile

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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