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

AutoZone, Inc. (NYSE:AZO) has been assigned an average rating of “Moderate Buy” from the twenty-seven analysts that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $4,029.4348.

AZO has been the subject of several recent analyst reports. Robert W. Baird decreased their price target on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Evercore reaffirmed an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. Mizuho reduced their price objective on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. DA Davidson decreased their target price on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, Roth Capital decreased their target price on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th.

Insider Buying and Selling

In other news, VP Dennis W. Leriche sold 1,455 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares of the company’s stock, valued at $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Hannasch acquired 165 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the transaction, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of AutoZone during the 2nd quarter valued at about $356,000. Guggenheim Capital LLC grew its stake in shares of AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock valued at $921,000 after purchasing an additional 9 shares during the period. NewEdge Advisors LLC increased its position in shares of AutoZone by 8.9% during the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after purchasing an additional 112 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of AutoZone by 52.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after purchasing an additional 4,039 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Down 0.0%

Shares of NYSE AZO opened at $2,960.64 on Tuesday. AutoZone has a twelve month low of $2,902.20 and a twelve month high of $4,388.11. The firm has a market cap of $48.35 billion, a P/E ratio of 20.36, a PEG ratio of 1.50 and a beta of 0.33. The company has a 50 day moving average of $3,054.94 and a 200 day moving average of $3,332.00.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the prior year, the firm posted $35.36 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts expect that AutoZone will post 150.39 earnings per share for the current fiscal year.

AutoZone announced that its Board of Directors has initiated a share repurchase plan on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.