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

Shares of AutoZone, Inc. (NYSE:AZO - Get Free Report) have been assigned a consensus recommendation of "Buy" from the twenty-three analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $3,966.76.

Several research analysts have commented on the stock. BMO Capital Markets raised their price target on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the company an "overweight" rating in a research report on Monday, May 19th. Morgan Stanley raised their price objective on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Finally, UBS Group restated a "buy" rating on shares of AutoZone in a research report on Friday.

Insiders Place Their Bets

In other news, SVP Bailey L. Childress sold 160 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the sale, the senior vice president now directly owns 50 shares of the company's stock, valued at approximately $177,500. This trade represents a 76.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Domingo Hurtado sold 4,800 shares of the firm's stock in a transaction dated 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 now directly owns 159 shares of the company's stock, valued at approximately $581,940. This represents a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,521 shares of company stock valued at $42,177,331 in the last quarter. Insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AZO. Janney Montgomery Scott LLC lifted its stake in shares of AutoZone by 4.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 1,629 shares of the company's stock worth $5,216,000 after buying an additional 62 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after purchasing an additional 14 shares during the last quarter. CX Institutional raised its holdings in shares of AutoZone by 3.0% during the fourth quarter. CX Institutional now owns 204 shares of the company's stock valued at $653,000 after purchasing an additional 6 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of AutoZone by 13.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,087 shares of the company's stock valued at $3,481,000 after purchasing an additional 125 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of AutoZone by 0.7% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,347 shares of the company's stock valued at $4,313,000 after purchasing an additional 10 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

AutoZone Price Performance

Shares of AutoZone stock traded down $140.40 on Friday, reaching $3,686.07. 321,986 shares of the company traded hands, compared to its average volume of 129,496. AutoZone has a 52 week low of $2,728.97 and a 52 week high of $3,916.81. The company has a 50 day moving average of $3,692.06 and a 200 day moving average of $3,455.58. The firm has a market capitalization of $61.86 billion, a PE ratio of 24.63, a PEG ratio of 1.86 and a beta of 0.44.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The business had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.41 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $36.69 earnings per share. As a group, analysts anticipate 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.