Brokerages Set AutoZone, Inc. (NYSE:AZO) Price Target at $3,182.33

Shares of AutoZone, Inc. (NYSE:AZO) have earned an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, thirteen have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $3,175.75.

Several research analysts have recently issued reports on AZO shares. BNP Paribas raised AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. UBS Group upped their price target on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Citigroup reduced their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Oppenheimer reaffirmed a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Finally, StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st.

AutoZone Stock Performance

AZO stock opened at $3,160.09 on Friday. The company’s 50 day moving average price is $3,131.44 and its 200 day moving average price is $3,006.84. The firm has a market capitalization of $53.98 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 1.59 and a beta of 0.70. AutoZone has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $46.46 earnings per share. Equities analysts forecast that AutoZone will post 157.99 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the transaction, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John Scott Murphy sold 1,580 shares of the 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 directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,880 shares of company stock worth $46,225,660. Company insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

Institutional investors have recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in AutoZone in the 1st quarter valued at about $32,000. Riverview Trust Co acquired a new stake in shares of AutoZone in the first quarter worth $41,000. Meeder Asset Management Inc. raised its position in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of AutoZone during the 2nd quarter valued at about $50,000. Finally, ORG Partners LLC acquired a new position in shares of AutoZone during the second quarter worth $50,000. 92.74% of the stock is currently 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.