Brokerages Set AutoZone, Inc. (NYSE:AZO) PT at $4,312.13

Shares of AutoZone, Inc. (NYSE:AZO) have received a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $4,312.1250.

A number of research analysts have commented on the company. The Goldman Sachs Group upped their price objective on AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Jefferies Financial Group reissued a “buy” rating and issued a $4,400.00 target price on shares of AutoZone in a research report on Wednesday, December 10th. Wells Fargo & Company lowered their price target on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Oppenheimer reiterated an “outperform” rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. Finally, BMO Capital Markets decreased their target price on shares of AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th.

Insider Activity at AutoZone

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the transaction, the director directly owned 3,564 shares of the company’s stock, valued at $11,910,852.36. The trade was a 2.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the sale, the director owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. The trade was a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 9,447 shares of company stock worth $34,179,923. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Several institutional investors and hedge funds have recently bought and sold shares of the company. Turning Point Benefit Group Inc. acquired a new stake in AutoZone during the third quarter worth about $25,000. Raleigh Capital Management Inc. acquired a new position in shares of AutoZone in the 3rd quarter valued at approximately $26,000. Torren Management LLC bought a new stake in shares of AutoZone during the 4th quarter worth approximately $27,000. Transamerica Financial Advisors LLC lifted its holdings in shares of AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares during the period. Finally, Global Trust Asset Management LLC boosted its position in shares of AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after acquiring an additional 6 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 1.2%

Shares of AZO stock opened at $3,385.74 on Friday. AutoZone has a 12-month low of $3,210.72 and a 12-month high of $4,388.11. The company has a market capitalization of $55.80 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 1.71 and a beta of 0.41. The firm has a 50 day moving average price of $3,648.59 and a two-hundred day moving average price of $3,756.10.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating the consensus estimate of $27.59 by $0.04. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $28.29 earnings per share. As a group, research analysts expect that AutoZone will post 152.94 EPS for the current year.

About AutoZone

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.