AutoZone (NYSE:AZO) Raised to Strong-Buy at BNP Paribas

BNP Paribas upgraded shares of AutoZone (NYSE:AZO) to a strong-buy rating in a report released on Wednesday, Zacks.com reports.

A number of other equities research analysts also recently commented on the stock. Guggenheim increased their price objective on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a buy rating in a research report on Wednesday. Mizuho boosted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an outperform rating in a research report on Wednesday. Wedbush reaffirmed an outperform rating and issued a $3,200.00 target price on shares of AutoZone in a research report on Thursday, September 19th. Morgan Stanley boosted their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an overweight rating in a research report on Wednesday. Finally, UBS Group raised their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the stock a buy rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $3,169.38.

AutoZone Trading Up 0.2 %

NYSE AZO opened at $3,196.61 on Wednesday. The stock has a market cap of $54.61 billion, a PE ratio of 22.11, a P/E/G ratio of 1.43 and a beta of 0.71. AutoZone has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The stock has a fifty day simple moving average of $3,121.63 and a 200-day simple moving average of $3,012.27.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter last year, the company earned $46.46 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts predict that AutoZone will post 151.08 EPS for the current year.

Insider Activity

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AZO. Rise Advisors LLC purchased a new stake in shares of AutoZone in the first quarter valued at $32,000. Riverview Trust Co acquired a new position in shares of AutoZone during the 1st quarter valued at about $41,000. Meeder Asset Management Inc. lifted its holdings in shares of AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of AutoZone in the second quarter worth approximately $50,000. Finally, ORG Partners LLC purchased a new stake in AutoZone in the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

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.