Brokerages Set AutoZone, Inc. (NYSE:AZO) PT at $3,086.61

AutoZone, Inc. (NYSE:AZO) has received a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $3,086.61.

A number of equities analysts have issued reports on AZO shares. Morgan Stanley increased their price objective on AutoZone from $2,900.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Mizuho started coverage on AutoZone in a research note on Tuesday, March 19th. They issued a “buy” rating and a $3,450.00 target price on the stock. Wedbush increased their target price on AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Barclays increased their price objective on AutoZone from $2,779.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Evercore ISI decreased their price objective on AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th.

AutoZone Price Performance

Shares of AZO opened at $2,963.27 on Friday. AutoZone has a 1 year low of $2,277.88 and a 1 year high of $3,256.37. The stock has a 50 day simple moving average of $3,010.24 and a two-hundred day simple moving average of $2,764.30. The firm has a market cap of $51.32 billion, a P/E ratio of 20.87, a P/E/G ratio of 1.48 and a beta of 0.70.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating the consensus estimate of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the previous year, the company posted $24.64 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that AutoZone will post 152.4 earnings per share for the current year.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 6,700 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the transaction, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the sale, the chairman now owns 15,357 shares in the company, valued at approximately $48,992,208.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the completion of the sale, the vice president now owns 2,921 shares in the company, valued at approximately $8,756,456.96. The disclosure for this sale can be found here. In the last three months, insiders sold 15,990 shares of company stock valued at $50,335,193. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On AutoZone

A number of large investors have recently bought and sold shares of the business. Rock Creek Group LP acquired a new stake in shares of AutoZone in the third quarter valued at approximately $25,000. Rise Advisors LLC purchased a new position in AutoZone in the first quarter worth approximately $32,000. Riverview Trust Co purchased a new position in AutoZone in the first quarter worth approximately $41,000. ORG Partners LLC purchased a new position in AutoZone in the third quarter worth approximately $43,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in AutoZone in the third quarter worth approximately $51,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.