AutoZone (NYSE:AZO) Given Buy Rating at Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of AutoZone (NYSE:AZOGet Rating) in a report released on Thursday morning. Stifel Nicolaus currently has a $2,450.00 target price on the stock.

Several other analysts have also recently issued reports on AZO. Morgan Stanley upgraded AutoZone from an equal weight rating to an overweight rating and increased their target price for the stock from $2,125.00 to $2,420.00 in a research report on Thursday, June 16th. The Goldman Sachs Group reiterated a buy rating and set a $2,334.00 target price on shares of AutoZone in a research report on Wednesday. Wedbush increased their target price on AutoZone from $2,250.00 to $2,350.00 and gave the stock an outperform rating in a research report on Tuesday. UBS Group increased their target price on AutoZone from $2,100.00 to $2,260.00 and gave the stock a neutral rating in a research report on Monday, September 12th. Finally, MKM Partners started coverage on AutoZone in a research report on Thursday, June 23rd. They set a buy rating and a $2,350.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, AutoZone has a consensus rating of Moderate Buy and a consensus price target of $2,356.53.

AutoZone Stock Down 1.0 %

NYSE AZO opened at $2,082.64 on Thursday. The stock’s 50-day moving average price is $2,185.96 and its 200-day moving average price is $2,096.21. AutoZone has a 52 week low of $1,634.34 and a 52 week high of $2,362.24. The company has a market capitalization of $40.59 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78.

AutoZone (NYSE:AZOGet Rating) last posted its quarterly earnings data on Monday, September 19th. The company reported $40.51 EPS for the quarter, topping the consensus estimate of $38.38 by $2.13. AutoZone had a negative return on equity of 79.74% and a net margin of 14.95%. The firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter last year, the company earned $35.72 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Research analysts anticipate that AutoZone will post 122.78 EPS for the current year.

Insider Transactions at AutoZone

In related news, CEO William C. Rhodes III sold 2,958 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total transaction of $6,526,324.14. Following the completion of the sale, the chief executive officer now directly owns 15,935 shares of the company’s stock, valued at approximately $35,157,868.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William C. Rhodes III sold 2,958 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total transaction of $6,526,324.14. Following the completion of the sale, the chief executive officer now directly owns 15,935 shares of the company’s stock, valued at approximately $35,157,868.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Domingo Hurtado sold 395 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total value of $875,924.35. Following the sale, the vice president now directly owns 362 shares of the company’s stock, valued at $802,745.86. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently bought and sold shares of AZO. Royal Bank of Canada raised its position in AutoZone by 368.0% during the 1st quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock valued at $841,242,000 after purchasing an additional 323,536 shares in the last quarter. Norges Bank bought a new stake in AutoZone during the 4th quarter valued at $420,100,000. JPMorgan Chase & Co. raised its position in AutoZone by 13.9% during the 1st quarter. JPMorgan Chase & Co. now owns 1,188,751 shares of the company’s stock valued at $2,430,495,000 after purchasing an additional 144,984 shares in the last quarter. Aaron Wealth Advisors LLC bought a new stake in AutoZone during the 1st quarter valued at $39,000. Finally, Marshall Wace LLP raised its position in AutoZone by 1,730.2% during the 4th quarter. Marshall Wace LLP now owns 76,099 shares of the company’s stock valued at $159,533,000 after purchasing an additional 71,941 shares in the last quarter. 92.90% of the stock is owned by institutional investors.

About AutoZone

(Get Rating)

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

Further Reading

Analyst Recommendations for AutoZone (NYSE:AZO)

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