AutoZone, Inc. (NYSE:AZO) Given Average Recommendation of “Buy” by Brokerages

AutoZone, Inc. (NYSE:AZOGet Rating) has received a consensus recommendation of “Buy” from the twenty-one brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $2,057.28.

A number of analysts recently weighed in on AZO shares. Stephens increased their price objective on AutoZone from $2,195.00 to $2,285.00 and gave the company an “overweight” rating in a report on Thursday. Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $2,210.00 price objective for the company in a report on Tuesday, March 29th. DA Davidson increased their price objective on AutoZone from $1,900.00 to $1,920.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup increased their price objective on AutoZone from $2,210.00 to $2,250.00 in a report on Friday, May 13th. Finally, Truist Financial decreased their price objective on AutoZone from $2,215.00 to $2,174.00 and set a “buy” rating for the company in a report on Wednesday.

In related news, VP Eric S. Gould sold 2,550 shares of the firm’s stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $2,000.00, for a total value of $5,100,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Preston Frazer sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $2,220.00, for a total transaction of $3,330,000.00. Following the completion of the transaction, the executive vice president now directly owns 783 shares in the company, valued at approximately $1,738,260. The disclosure for this sale can be found here. Insiders have sold a total of 7,682 shares of company stock worth $16,146,334 in the last three months. Insiders own 2.60% of the company’s stock.

Large investors have recently bought and sold shares of the business. Riverview Trust Co purchased a new stake in AutoZone in the 1st quarter valued at about $27,000. Allworth Financial LP purchased a new stake in AutoZone in the 4th quarter valued at about $29,000. CVA Family Office LLC purchased a new stake in AutoZone in the 4th quarter valued at about $31,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in AutoZone in the 4th quarter valued at about $27,000. Finally, Tcwp LLC purchased a new stake in shares of AutoZone during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

Shares of NYSE:AZO traded up $64.30 during trading on Friday, hitting $2,028.96. 235,549 shares of the company were exchanged, compared to its average volume of 195,328. The business’s 50 day moving average is $2,037.74 and its 200-day moving average is $1,975.98. The company has a market capitalization of $40.27 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.50 and a beta of 0.90. AutoZone has a 1-year low of $1,367.96 and a 1-year high of $2,267.40.

AutoZone (NYSE:AZOGet Rating) last announced its quarterly earnings results on Tuesday, May 24th. The company reported $29.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $25.70 by $3.33. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.71 billion. AutoZone had a net margin of 15.44% and a negative return on equity of 109.21%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $26.48 earnings per share. On average, equities research analysts expect that AutoZone will post 111.66 EPS for the current year.

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.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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