Brokerages Set AutoZone, Inc. (NYSE:AZO) Price Target at $4,285.00

AutoZone, Inc. (NYSE:AZO) has received an average recommendation of “Moderate Buy” from the twenty-nine analysts that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $4,285.00.

Several equities analysts recently issued reports on AZO shares. The Goldman Sachs Group dropped their target price on shares of AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Wolfe Research downgraded AutoZone from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 16th. Oppenheimer decreased their target price on AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating for the company in a research note on Friday, January 9th. JPMorgan Chase & Co. dropped their price target on AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating on the stock in a research note on Thursday, December 18th. Finally, Wells Fargo & Company cut their price target on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th.

AutoZone Price Performance

Shares of AZO stock opened at $3,673.30 on Friday. The stock has a market capitalization of $60.87 billion, a PE ratio of 25.62, a PEG ratio of 1.77 and a beta of 0.41. The business’s 50 day simple moving average is $3,568.66 and its 200 day simple moving average is $3,850.95. AutoZone has a one year low of $3,210.72 and a one year high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the business posted $32.52 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts expect that AutoZone will post 152.94 earnings per share for the current year.

AutoZone declared that its board has initiated a share buyback plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In related news, Director Brian Hannasch acquired 147 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were bought at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the transaction, the director directly owned 962 shares of the company’s stock, valued at $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Richard Craig Smith sold 5,910 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president directly owned 2,627 shares of the company’s stock, valued at $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in AutoZone by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock valued at $7,711,912,000 after purchasing an additional 26,544 shares during the period. Laurel Wealth Advisors LLC lifted its stake in shares of AutoZone by 371,123.0% in the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after buying an additional 935,230 shares in the last quarter. State Street Corp grew its holdings in shares of AutoZone by 1.6% during the second quarter. State Street Corp now owns 714,091 shares of the company’s stock valued at $2,650,870,000 after buying an additional 11,088 shares during the last quarter. Geode Capital Management LLC increased its position in shares of AutoZone by 1.9% during the second quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock worth $1,649,228,000 after acquiring an additional 8,187 shares in the last quarter. Finally, PineStone Asset Management Inc. raised its holdings in shares of AutoZone by 1.5% in the 4th quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock worth $912,900,000 after acquiring an additional 3,868 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do?it?yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.