AutoZone, Inc. (AZO) Receives $967.54 Average PT from Analysts

Shares of AutoZone, Inc. (NYSE:AZO) have been assigned a consensus recommendation of “Buy” from the eighteen research firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $972.94.

A number of equities research analysts have weighed in on AZO shares. ValuEngine downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Citigroup initiated coverage on shares of AutoZone in a research note on Monday, April 1st. They issued a “buy” rating and a $1,206.00 target price on the stock. Barclays restated an “overweight” rating and issued a $1,050.00 target price (up previously from $950.00) on shares of AutoZone in a research note on Wednesday, February 27th. Morgan Stanley boosted their target price on shares of AutoZone from $800.00 to $870.00 in a research note on Thursday, December 27th. Finally, Deutsche Bank boosted their target price on shares of AutoZone from $960.00 to $1,035.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th.

In related news, VP Albert Saltiel sold 2,150 shares of AutoZone stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $912.11, for a total value of $1,961,036.50. Following the completion of the transaction, the vice president now directly owns 2,308 shares of the company’s stock, valued at $2,105,149.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philip B. Daniele sold 740 shares of AutoZone stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $920.00, for a total value of $680,800.00. Following the completion of the transaction, the insider now directly owns 1,105 shares of the company’s stock, valued at $1,016,600. The disclosure for this sale can be found here. Insiders sold a total of 10,640 shares of company stock worth $10,370,907 in the last 90 days. 2.80% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Northwest Bancshares Inc. raised its holdings in shares of AutoZone by 8.0% in the first quarter. Northwest Bancshares Inc. now owns 2,632 shares of the company’s stock valued at $2,695,000 after buying an additional 195 shares during the last quarter. Investec Asset Management North America Inc. raised its holdings in shares of AutoZone by 13.7% in the first quarter. Investec Asset Management North America Inc. now owns 23,626 shares of the company’s stock valued at $24,196,000 after buying an additional 2,844 shares during the last quarter. Investec Asset Management LTD raised its holdings in shares of AutoZone by 110.6% in the first quarter. Investec Asset Management LTD now owns 252,291 shares of the company’s stock valued at $258,376,000 after buying an additional 132,508 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of AutoZone in the first quarter valued at about $376,000. Finally, BB&T Corp raised its holdings in shares of AutoZone by 9.0% in the first quarter. BB&T Corp now owns 339 shares of the company’s stock valued at $347,000 after buying an additional 28 shares during the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.

AZO traded down $14.12 during trading on Monday, reaching $1,028.48. 6,984 shares of the company’s stock were exchanged, compared to its average volume of 251,968. AutoZone has a fifty-two week low of $597.00 and a fifty-two week high of $1,074.67. The company has a market capitalization of $25.75 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.41 and a beta of 0.69.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, February 26th. The company reported $11.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $9.97 by $1.52. AutoZone had a net margin of 12.49% and a negative return on equity of 98.24%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the company earned $8.47 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that AutoZone will post 61.74 earnings per share for the current fiscal year.

AutoZone Company Profile

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, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

Further Reading: Average Daily Trade Volume – ADTV

Analyst Recommendations for AutoZone (NYSE:AZO)

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