AutoZone (NYSE:AZO) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer reiterated their market perform rating on shares of AutoZone (NYSE:AZO) in a research report released on Wednesday, Benzinga reports. Oppenheimer currently has a $2,600.00 price target on the stock.

AZO has been the topic of a number of other reports. Evercore ISI raised their target price on shares of AutoZone from $3,250.00 to $3,278.00 and gave the company an outperform rating in a research note on Thursday, June 20th. Morgan Stanley decreased their price target on shares of AutoZone from $3,100.00 to $3,038.00 and set an overweight rating on the stock in a research note on Wednesday, May 22nd. Wolfe Research decreased their price target on shares of AutoZone from $3,150.00 to $3,000.00 and set an outperform rating on the stock in a research note on Wednesday, May 22nd. Truist Financial decreased their price target on shares of AutoZone from $3,523.00 to $3,394.00 and set a buy rating on the stock in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $3,000.00 to $3,200.00 and gave the stock an overweight rating in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $3,112.88.

AutoZone Price Performance

Shares of AZO opened at $2,933.00 on Wednesday. The firm’s 50 day simple moving average is $2,895.27 and its 200 day simple moving average is $2,859.68. The company has a market capitalization of $50.10 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.47 and a beta of 0.71. AutoZone has a 1-year low of $2,375.35 and a 1-year high of $3,256.37.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. AutoZone’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $34.12 earnings per share. On average, equities analysts anticipate that AutoZone will post 151.57 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In related news, VP Jenna M. Bedsole acquired 36 shares of AutoZone stock in a transaction on Thursday, May 23rd. The shares were acquired at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the transaction, the vice president now owns 36 shares in the company, valued at $99,255.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AZO. Paralel Advisors LLC increased its position in AutoZone by 1.0% during the 3rd quarter. Paralel Advisors LLC now owns 778 shares of the company’s stock valued at $1,976,000 after purchasing an additional 8 shares during the period. LPL Financial LLC grew its position in shares of AutoZone by 5.1% in the 3rd quarter. LPL Financial LLC now owns 9,225 shares of the company’s stock worth $23,431,000 after buying an additional 445 shares during the period. Mutual Advisors LLC grew its position in shares of AutoZone by 49.1% in the 3rd quarter. Mutual Advisors LLC now owns 422 shares of the company’s stock worth $1,072,000 after buying an additional 139 shares during the period. Private Advisory Group LLC grew its position in shares of AutoZone by 36.5% in the 3rd quarter. Private Advisory Group LLC now owns 217 shares of the company’s stock worth $550,000 after buying an additional 58 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of AutoZone by 158.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,149 shares of the company’s stock worth $2,918,000 after buying an additional 705 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

About AutoZone

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.