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

Key Points

• AutoZone is rated a “Moderate Buy” by 28 analysts, with 21 buy ratings, 6 holds, and 1 strong buy. The average 1-year price target is about $4,312.
• Several brokerages recently raised their price targets or reiterated bullish ratings, including Morgan Stanley, UBS, Oppenheimer, Argus, and Evercore. Targets range from $4,020 to $4,800.
• AutoZone reported quarterly EPS of $27.63, slightly above estimates, while revenue came in at $4.27 billion, below expectations but still up 8.2% year over year. The stock opened at $3,497.52, below its 52-week high of $4,388.11.

AutoZone, Inc. (NYSE:AZO - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-eight ratings firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, twenty-one have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $4,312.1250.

Several brokerages have weighed in on AZO. Morgan Stanley boosted their price objective on AutoZone from $4,000.00 to $4,020.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 4th. UBS Group set a $4,800.00 price objective on AutoZone in a research note on Tuesday, March 3rd. Oppenheimer reaffirmed an "outperform" rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. Argus raised AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 price objective for the company in a research note on Monday, March 9th. Finally, Evercore raised their price objective on AutoZone from $4,100.00 to $4,125.00 and gave the company an "outperform" rating in a research note on Friday, February 27th.

Insider Activity

In other news, Director Earl G. Graves, Jr. sold 50 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares of the company's stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On AutoZone

Several institutional investors have recently modified their holdings of the stock. Obermeyer Wealth Partners lifted its stake in shares of AutoZone by 4.7% in the 3rd quarter. Obermeyer Wealth Partners now owns 67 shares of the company's stock valued at $287,000 after purchasing an additional 3 shares during the last quarter. Covestor Ltd raised its holdings in shares of AutoZone by 5.5% in the third quarter. Covestor Ltd now owns 58 shares of the company's stock worth $250,000 after buying an additional 3 shares during the period. SYM FINANCIAL Corp raised its holdings in shares of AutoZone by 3.6% in the third quarter. SYM FINANCIAL Corp now owns 86 shares of the company's stock worth $369,000 after buying an additional 3 shares during the period. Camden National Bank raised its holdings in shares of AutoZone by 3.6% in the third quarter. Camden National Bank now owns 86 shares of the company's stock worth $369,000 after buying an additional 3 shares during the period. Finally, Crestwood Advisors Group LLC raised its holdings in shares of AutoZone by 1.7% in the third quarter. Crestwood Advisors Group LLC now owns 184 shares of the company's stock worth $791,000 after buying an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

NYSE AZO opened at $3,497.52 on Friday. The stock has a market capitalization of $57.64 billion, a PE ratio of 24.50, a P/E/G ratio of 1.79 and a beta of 0.43. The business has a 50 day simple moving average of $3,530.25 and a two-hundred day simple moving average of $3,617.57. AutoZone has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion during the quarter, compared to analysts' expectations of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $28.29 EPS. On average, analysts anticipate that AutoZone will post 148.93 EPS for the current fiscal year.

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.

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