AutoZone, Inc. (NYSE:AZO) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of AutoZone, Inc. (NYSE:AZO - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-two brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, sixteen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $3,429.84.

AZO has been the subject of a number of research reports. UBS Group increased their price target on AutoZone from $3,340.00 to $3,500.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. BMO Capital Markets assumed coverage on AutoZone in a research note on Friday, December 13th. They set an "outperform" rating and a $3,700.00 target price for the company. Redburn Atlantic upgraded shares of AutoZone to a "strong-buy" rating in a research report on Tuesday, October 1st. Wells Fargo & Company raised their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. Finally, TD Cowen boosted their target price on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a "buy" rating in a report on Monday, December 16th.

AutoZone Trading Up 0.8 %

AZO stock traded up $27.10 during trading on Monday, hitting $3,221.06. The company had a trading volume of 144,277 shares, compared to its average volume of 105,718. The business has a 50 day moving average of $3,222.90 and a 200 day moving average of $3,136.66. The firm has a market capitalization of $54.05 billion, a price-to-earnings ratio of 21.52, a P/E/G ratio of 1.80 and a beta of 0.71. AutoZone has a fifty-two week low of $2,658.18 and a fifty-two week high of $3,416.71.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts' consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the company posted $32.55 earnings per share. The company's revenue was up 2.1% on a year-over-year basis. As a group, equities analysts predict that AutoZone will post 153.09 EPS for the current year.

Hedge Funds Weigh In On AutoZone

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of AutoZone by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 49,663 shares of the company's stock valued at $147,204,000 after buying an additional 7,908 shares during the last quarter. Brighton Jones LLC lifted its stake in AutoZone by 4.1% in the second quarter. Brighton Jones LLC now owns 101 shares of the company's stock valued at $299,000 after acquiring an additional 4 shares during the last quarter. Ieq Capital LLC boosted its holdings in AutoZone by 7.2% in the second quarter. Ieq Capital LLC now owns 880 shares of the company's stock worth $2,609,000 after purchasing an additional 59 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of AutoZone by 22.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 717 shares of the company's stock worth $2,126,000 after buying an additional 130 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of AutoZone by 5.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,248 shares of the company's stock worth $3,699,000 after acquiring an additional 61 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

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.