AutoZone (NYSE:AZO) Stock Rating Reaffirmed by Oppenheimer

AutoZone (NYSE:AZO)‘s stock had its “market perform” rating reissued by analysts at Oppenheimer in a research note issued on Wednesday, Benzinga reports. They currently have a $2,600.00 price target on the stock. Oppenheimer’s price target suggests a potential downside of 11.05% from the company’s previous close.

Several other research analysts have also weighed in on AZO. Truist Financial dropped their price objective 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. Morgan Stanley cut their price objective on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a report on Wednesday, May 22nd. DA Davidson boosted their price target on AutoZone from $2,770.00 to $3,025.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Mizuho decreased their target price on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Finally, Barclays cut their price target on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3,112.88.

AutoZone Stock Down 0.5 %

AutoZone stock traded down $13.28 during trading hours on Wednesday, hitting $2,923.13. 61,816 shares of the company traded hands, compared to its average volume of 153,426. AutoZone has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The firm has a market cap of $49.93 billion, a P/E ratio of 20.22, a P/E/G ratio of 1.47 and a beta of 0.71. The firm’s 50-day simple moving average is $2,895.27 and its two-hundred day simple moving average is $2,859.68.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company earned $34.12 earnings per share. AutoZone’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that AutoZone will post 151.57 earnings per share for the current year.

Insider Transactions at AutoZone

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

Institutional Trading of AutoZone

Several large investors have recently made changes to their positions in AZO. Parnassus Investments LLC boosted its holdings in AutoZone by 32.0% in the fourth quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after acquiring an additional 58,989 shares during the last quarter. LGT Capital Partners LTD. boosted its holdings in AutoZone by 32.2% in the fourth quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock valued at $70,458,000 after acquiring an additional 6,630 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in AutoZone by 49.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 155 shares of the company’s stock valued at $401,000 after acquiring an additional 51 shares during the last quarter. Nomura Holdings Inc. bought a new position in AutoZone in the fourth quarter valued at about $879,000. Finally, Headlands Technologies LLC bought a new position in AutoZone in the fourth quarter valued at about $145,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Company Profile

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.