AutoZone (NYSE:AZO) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of AutoZone (NYSE:AZO) from a hold rating to a buy rating in a report issued on Thursday.

Other analysts have also recently issued reports about the company. Stephens upped their price objective on AutoZone from $3,000.00 to $3,070.00 and gave the stock an overweight rating in a report on Wednesday, December 6th. Evercore ISI upped their price objective on AutoZone from $3,375.00 to $3,400.00 and gave the stock an outperform rating in a report on Tuesday, March 26th. Wedbush boosted their target price on AutoZone from $2,950.00 to $3,400.00 and gave the company an outperform rating in a research report on Wednesday, February 28th. Raymond James raised AutoZone from an outperform rating to a strong-buy rating and boosted their target price for the company from $2,850.00 to $3,100.00 in a research report on Wednesday, December 6th. Finally, TheStreet downgraded AutoZone from a c rating to a d+ rating in a research report on Wednesday, December 20th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $3,089.61.

AutoZone Trading Up 0.6 %

NYSE AZO opened at $3,104.94 on Thursday. The stock has a market cap of $53.72 billion, a PE ratio of 21.86, a P/E/G ratio of 1.64 and a beta of 0.70. AutoZone has a 12 month low of $2,277.88 and a 12 month high of $3,256.37. The stock’s 50 day moving average is $2,966.62 and its 200 day moving average is $2,729.96.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $26.08 by $2.81. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $24.64 EPS. On average, analysts forecast that AutoZone will post 151.33 EPS for the current fiscal year.

Insider Buying and Selling at AutoZone

In other AutoZone news, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the completion of the sale, the chief executive officer now directly owns 900 shares in the company, valued at approximately $2,845,512. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other AutoZone news, Director George R. Mrkonic, Jr. sold 414 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $2,541.85, for a total value of $1,052,325.90. Following the completion of the sale, the director now directly owns 3,470 shares in the company, valued at approximately $8,820,219.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the completion of the sale, the chief executive officer now owns 900 shares of the company’s stock, valued at $2,845,512. The disclosure for this sale can be found here. Insiders have sold 19,997 shares of company stock valued at $61,108,338 in the last quarter. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On AutoZone

A number of hedge funds have recently made changes to their positions in AZO. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of AutoZone during the 3rd quarter worth $25,000. Rock Creek Group LP purchased a new stake in shares of AutoZone during the 3rd quarter worth $25,000. First Capital Advisors Group LLC. purchased a new stake in shares of AutoZone during the 2nd quarter worth $32,000. MUFG Americas Holdings Corp lifted its stake in shares of AutoZone by 166.7% during the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after purchasing an additional 10 shares during the last quarter. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of AutoZone during the 3rd quarter worth $38,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

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.