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

Key Points

• Consensus "Moderate Buy": 28 analysts rate AutoZone as a consensus Moderate Buy (21 buys, 6 holds, 1 strong buy) with an average 1‑year price target of about $4,312.13.
• Stock and results snapshot: shares opened at $3,512.16 (52‑week range $3,210.72–$4,388.11) with a $57.9B market cap and P/E of 24.6; most recent quarter delivered $27.63 EPS (beat by $0.04) and 8.2% revenue growth despite a slight revenue miss versus estimates.

Shares of AutoZone, Inc. (NYSE:AZO - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-eight analysts that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $4,312.1250.

AZO has been the subject of a number of recent analyst reports. Argus raised shares of 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. Barclays increased their target price on shares of AutoZone from $3,800.00 to $3,900.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 4th. Roth Mkm cut their target price on shares of AutoZone from $4,650.00 to $4,526.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Morgan Stanley increased their target price on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 4th. Finally, BMO Capital Markets cut their target price on shares of AutoZone from $4,400.00 to $4,300.00 and set an "outperform" rating for the company in a research report on Wednesday, March 4th.

AutoZone Stock Performance

AutoZone stock opened at $3,512.16 on Wednesday. The company has a 50 day moving average price of $3,581.38 and a 200 day moving average price of $3,675.62. AutoZone has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The firm has a market capitalization of $57.88 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.80 and a beta of 0.41.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping analysts' consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the business posted $28.29 EPS. The company's revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that AutoZone will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares in the company, valued at $9,719,900. This represents a 69.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of the 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 transaction of $173,936.00. Following the completion of the sale, the director owned 4,837 shares of the company's stock, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 9,150 shares of company stock valued at $33,205,936. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone during the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. bought a new position in shares of AutoZone during the 3rd quarter valued at $26,000. Torren Management LLC bought a new position in shares of AutoZone during the 4th quarter valued at $27,000. Transamerica Financial Advisors LLC raised its holdings in shares of AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock valued at $28,000 after purchasing an additional 4 shares in the last quarter. Finally, Global Trust Asset Management LLC raised its holdings in shares of AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company's stock valued at $30,000 after purchasing an additional 6 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

AutoZone Company Profile

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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