AutoZone, Inc. (NYSE:AZO) Given Average Rating of "Buy" by Brokerages

Shares of AutoZone, Inc. (NYSE:AZO - Get Free Report) have earned a consensus rating of "Buy" from the twenty-three analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $4,087.00.

Several research firms have commented on AZO. BMO Capital Markets reissued an "outperform" rating and issued a $4,100.00 price objective (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Guggenheim raised their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. The Goldman Sachs Group set a $3,811.00 target price on AutoZone in a research note on Friday, May 23rd. Finally, Evercore ISI set a $3,950.00 price target on AutoZone in a research note on Monday, May 19th.

Insider Activity

In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the sale, the chairman directly owned 8,546 shares of the company's stock, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Domingo Hurtado sold 4,800 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the completion of the sale, the vice president owned 159 shares in the company, valued at approximately $581,940. This trade represents a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,662 shares of company stock valued at $131,999,089 over the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AutoZone

Several hedge funds have recently bought and sold shares of the company. PDS Planning Inc raised its holdings in AutoZone by 2.3% in the fourth quarter. PDS Planning Inc now owns 132 shares of the company's stock worth $423,000 after purchasing an additional 3 shares during the period. Harbour Investments Inc. increased its position in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after acquiring an additional 3 shares in the last quarter. Meeder Advisory Services Inc. increased its position in shares of AutoZone by 0.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company's stock worth $1,188,000 after acquiring an additional 3 shares in the last quarter. Tandem Wealth Advisors LLC increased its position in shares of AutoZone by 3.6% during the fourth quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company's stock worth $279,000 after acquiring an additional 3 shares in the last quarter. Finally, United Capital Financial Advisors LLC increased its position in shares of AutoZone by 0.3% during the fourth quarter. United Capital Financial Advisors LLC now owns 1,120 shares of the company's stock worth $3,585,000 after acquiring an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Down 0.7%

Shares of AZO opened at $3,702.16 on Monday. The firm has a market capitalization of $62.12 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 2.21 and a beta of 0.39. The stock's fifty day simple moving average is $3,704.16 and its 200 day simple moving average is $3,565.22. AutoZone has a twelve month low of $2,894.02 and a twelve month high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm had revenue of $4.46 billion during the quarter, compared to analysts' expectations of $4.41 billion. During the same period last year, the business posted $36.69 earnings per share. The company's quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that AutoZone will post 152.94 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.