AutoZone, Inc. (NYSE:AZO) Receives Average Rating of "Buy" from Analysts

AutoZone, Inc. (NYSE:AZO - Get Free Report) has been given a consensus recommendation of "Buy" by the twenty-one research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and four have issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $3,202.71.

A number of research analysts have commented on the company. Citigroup decreased their price objective on 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. StockNews.com lowered AutoZone from a "buy" rating to a "hold" rating in a research report on Saturday, September 21st. UBS Group increased their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Roth Mkm reiterated a "buy" rating and issued a $3,634.00 price objective on shares of AutoZone in a research report on Wednesday, October 16th. Finally, DA Davidson restated a "neutral" rating and issued a $3,025.00 price target on shares of AutoZone in a research report on Monday, September 30th.

Insiders Place Their Bets

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated 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 sale, the vice president now owns 1,218 shares of the company's stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP John Scott Murphy sold 1,580 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The shares were 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 directly owns 1,218 shares of the company's stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the completion of the sale, the chairman now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,880 shares of company stock worth $46,225,660. Corporate insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On AutoZone

Large investors have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in AutoZone during the third quarter worth about $36,000. Meeder Asset Management Inc. boosted 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 buying an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of AutoZone in the 3rd quarter valued at approximately $47,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone in the second quarter valued at $50,000. Finally, ORG Partners LLC acquired a new position in AutoZone during the second quarter worth $50,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Up 4.7 %

AZO stock traded up $143.28 during midday trading on Wednesday, reaching $3,203.11. 215,716 shares of the company's stock traded hands, compared to its average volume of 138,914. The company has a market cap of $54.15 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.51 and a beta of 0.71. The company has a 50-day simple moving average of $3,114.54 and a two-hundred day simple moving average of $3,015.80. AutoZone has a 1-year low of $2,510.00 and a 1-year high of $3,256.37.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts' consensus estimates of $53.31 by ($5.20). The firm had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $46.46 earnings per share. Equities research analysts forecast that AutoZone will post 158.09 EPS for the current 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.