AutoZone (NYSE:AZO) Given “Buy” Rating at Roth Mkm

Roth Mkm restated their buy rating on shares of AutoZone (NYSE:AZO) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $3,634.00 price target on the stock.

A number of other equities analysts have also weighed in on AZO. UBS Group increased their target price on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Morgan Stanley increased their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Truist Financial boosted their target price on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI lifted their price objective on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Citigroup decreased their target price on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,129.16 on Wednesday. The business has a fifty day simple moving average of $3,131.84 and a two-hundred day simple moving average of $3,007.34. AutoZone has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The company has a market capitalization of $53.46 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 1.59 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the prior year, the business posted $46.46 EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts anticipate that AutoZone will post 157.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock worth $46,225,660 in the last three months. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AutoZone

Hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of AutoZone in the 1st quarter worth about $32,000. Riverview Trust Co bought a new stake in AutoZone in the first quarter worth approximately $41,000. Meeder Asset Management Inc. lifted its stake in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after buying an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone during the 2nd quarter worth approximately $50,000. Finally, ORG Partners LLC bought a new position in shares of AutoZone during the 2nd quarter worth approximately $50,000. Institutional investors 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.