AutoZone (NYSE:AZO) Upgraded by Redburn Atlantic to Strong-Buy

Redburn Atlantic upgraded shares of AutoZone (NYSE:AZO) to a strong-buy rating in a research report sent to investors on Tuesday, Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Mizuho lifted their price target on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an outperform rating in a report on Wednesday, September 25th. Citigroup lowered their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a buy rating on the stock in a report on Wednesday, September 25th. Truist Financial lowered their price target on shares of AutoZone from $3,394.00 to $3,341.00 and set a buy rating on the stock in a report on Wednesday, September 25th. UBS Group lifted their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a buy rating in a report on Wednesday, September 25th. Finally, Wedbush reaffirmed an outperform rating and set a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, AutoZone has a consensus rating of Buy and an average price target of $3,169.38.

AutoZone Trading Down 2.7 %

Shares of NYSE AZO opened at $3,087.62 on Tuesday. The firm has a 50 day moving average of $3,133.42 and a 200 day moving average of $3,012.48. The firm has a market capitalization of $52.75 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. AutoZone has a 12-month low of $2,375.35 and a 12-month high of $3,256.37.

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

Insider Activity at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction on 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 sale, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On AutoZone

A number of hedge funds have recently bought and sold shares of the business. Boston Partners raised its stake in AutoZone by 1.7% during the first quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after purchasing an additional 6,226 shares in the last quarter. PineStone Asset Management Inc. increased its position in AutoZone by 137.6% during the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after acquiring an additional 179,543 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in AutoZone by 11.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock valued at $550,296,000 after acquiring an additional 22,507 shares during the last quarter. Nordea Investment Management AB increased its position in AutoZone by 4.1% during the first quarter. Nordea Investment Management AB now owns 203,072 shares of the company’s stock valued at $643,641,000 after acquiring an additional 7,988 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in AutoZone by 564.2% during the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after acquiring an additional 129,193 shares during the last quarter. Hedge funds and other institutional investors 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.