Brokerages Set AutoZone, Inc. (NYSE:AZO) PT at $3,112.71

AutoZone, Inc. (NYSE:AZO) has been given a consensus recommendation of “Moderate Buy” by the eighteen brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $3,112.71.

Several research analysts have recently commented on the company. Mizuho reduced their price target on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Morgan Stanley cut their price objective on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research report on Wednesday, May 22nd. Barclays cut their price objective on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Wolfe Research cut their price objective on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. Finally, Evercore ISI cut their price objective on AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd.

Insider Transactions at AutoZone

In related news, VP Jenna M. Bedsole acquired 36 shares of the stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the transaction, the vice president now owns 36 shares in the company, valued at approximately $99,255.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Several institutional investors have recently added to or reduced their stakes in AZO. Clio Asset Management LLC lifted its stake in AutoZone by 32.5% during the fourth quarter. Clio Asset Management LLC now owns 2,337 shares of the company’s stock worth $6,043,000 after purchasing an additional 573 shares during the last quarter. Oak Thistle LLC purchased a new stake in AutoZone during the fourth quarter worth approximately $2,076,000. Drive Wealth Management LLC purchased a new stake in AutoZone during the fourth quarter worth approximately $209,000. Carmel Capital Management L.L.C. lifted its stake in AutoZone by 0.7% in the fourth quarter. Carmel Capital Management L.L.C. now owns 2,718 shares of the company’s stock valued at $7,028,000 after buying an additional 20 shares during the last quarter. Finally, TriaGen Wealth Management LLC lifted its stake in AutoZone by 3.9% in the fourth quarter. TriaGen Wealth Management LLC now owns 133 shares of the company’s stock valued at $344,000 after buying an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AZO stock opened at $3,177.67 on Monday. AutoZone has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The stock’s fifty day moving average is $2,908.48 and its two-hundred day moving average is $2,926.53. The firm has a market capitalization of $54.27 billion, a P/E ratio of 21.98, a PEG ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping the consensus estimate of $35.67 by $1.02. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the firm earned $34.12 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that AutoZone will post 151.37 earnings per share for the current year.

AutoZone Company Profile

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.