AutoZone, Inc. (NYSE:AZO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of AutoZone, Inc. (NYSE:AZO) have been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $3,112.71.

Several equities research analysts have recently issued reports on AZO shares. UBS Group lowered their price objective on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Citigroup reduced their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Truist Financial reduced their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Guggenheim increased their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Mizuho cut their price target on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd.

Insider Buying and Selling

In other AutoZone news, VP Jenna M. Bedsole purchased 36 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the transaction, the vice president now owns 36 shares in the company, valued at $99,255.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On AutoZone

Hedge funds have recently bought and sold shares of the company. Parnassus Investments LLC increased its holdings in AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after buying an additional 58,989 shares during the period. LGT Capital Partners LTD. increased its holdings in AutoZone by 32.2% in the 4th quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock valued at $70,458,000 after buying an additional 6,630 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of AutoZone in the 4th quarter valued at approximately $879,000. SRS Capital Advisors Inc. boosted its stake in shares of AutoZone by 49.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 155 shares of the company’s stock valued at $401,000 after purchasing an additional 51 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at approximately $145,000. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Up 1.5 %

Shares of AZO stock opened at $2,859.54 on Thursday. The firm has a market capitalization of $48.85 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.42 and a beta of 0.71. The firm’s 50 day moving average is $2,874.53 and its 200-day moving average is $2,875.87. AutoZone has a 1 year low of $2,375.35 and a 1 year high of $3,256.37.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, beating the consensus estimate of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm earned $34.12 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that AutoZone will post 151.57 earnings per share for the current fiscal year.

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.