AutoZone, Inc. (NYSE:AZO) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of AutoZone, Inc. (NYSE:AZO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-one brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, fifteen have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $3,384.89.

AZO has been the subject of a number of recent analyst reports. Roth Mkm restated a "buy" rating and issued a $3,634.00 price objective on shares of AutoZone in a research report on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an "overweight" rating in a research report on Wednesday, September 25th. Guggenheim upped their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. StockNews.com cut shares of AutoZone from a "buy" rating to a "hold" rating in a research report on Saturday, September 21st. Finally, Citigroup upped their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th.

AutoZone Price Performance

Shares of AutoZone stock traded down $42.23 on Thursday, hitting $3,241.25. 80,921 shares of the company's stock traded hands, compared to its average volume of 139,519. The firm's 50-day moving average price is $3,180.39 and its two-hundred day moving average price is $3,094.94. The stock has a market capitalization of $54.79 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71. AutoZone has a one year low of $2,510.00 and a one year high of $3,416.71.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the firm posted $32.55 EPS. The business's revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that AutoZone will post 154.29 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other news, Chairman William C. Rhodes III sold 13,000 shares of the company's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares of the company's stock, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On AutoZone

Institutional investors and hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of AutoZone in the 3rd quarter valued at about $36,000. Meeder Asset Management Inc. raised its holdings in shares of AutoZone by 50.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company's stock valued at $44,000 after purchasing an additional 5 shares during the period. Carolina Wealth Advisors LLC bought a new stake in shares of AutoZone in the 3rd quarter valued at about $47,000. Darwin Wealth Management LLC bought a new stake in shares of AutoZone in the 3rd quarter valued at about $47,000. Finally, McIlrath & Eck LLC raised its holdings in AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after acquiring an additional 4 shares during the period. 92.74% of the stock is owned by institutional investors.

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.