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

AutoZone, Inc. (NYSE:AZO) has earned an average rating of “Moderate Buy” from the eighteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $3,112.71.

Several analysts recently weighed in on AZO shares. Mizuho cut their price objective on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Wedbush lowered their target price on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. Evercore ISI lowered their target price on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Truist Financial lowered their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Finally, Wolfe Research lowered their target price on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd.

AutoZone Stock Up 0.7 %

Shares of NYSE:AZO opened at $2,834.65 on Thursday. The company has a market cap of $48.42 billion, a PE ratio of 19.60, a P/E/G ratio of 1.41 and a beta of 0.71. The company’s 50-day moving average price is $2,878.94 and its 200 day moving average price is $2,874.49. AutoZone has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating the consensus estimate of $35.67 by $1.02. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. AutoZone’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $34.12 EPS. As a group, equities analysts anticipate that AutoZone will post 151.57 EPS for the current year.

Insiders Place Their Bets

In other news, VP Jenna M. Bedsole bought 36 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the acquisition, the vice president now directly owns 36 shares in the company, valued at approximately $99,255.60. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parnassus Investments LLC boosted its holdings in shares of AutoZone by 32.0% during the fourth quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after purchasing an additional 58,989 shares during the period. LGT Capital Partners LTD. boosted its holdings in shares of AutoZone by 32.2% during the fourth quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock worth $70,458,000 after purchasing an additional 6,630 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of AutoZone during the fourth quarter worth approximately $879,000. SRS Capital Advisors Inc. boosted its holdings in shares of AutoZone by 49.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 155 shares of the company’s stock worth $401,000 after purchasing an additional 51 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of AutoZone during the fourth quarter worth approximately $145,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

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.