Analysts Set AutoZone, Inc. (NYSE:AZO) PT at $4,544.68

Shares of AutoZone, Inc. (NYSE:AZO) have been assigned an average recommendation of “Moderate Buy” from the twenty-eight research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, twenty-four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $4,544.68.

A number of research firms recently weighed in on AZO. UBS Group reduced their price objective on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. DA Davidson reissued a “buy” rating and issued a $4,850.00 price objective on shares of AutoZone in a research report on Wednesday, September 24th. Citigroup reduced their price objective on shares of AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Roth Capital reissued a “buy” rating and issued a $4,750.00 price objective (down from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. Finally, Mizuho increased their price objective on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an “outperform” rating in a research report on Thursday, July 3rd.

AutoZone Trading Down 1.3%

Shares of NYSE AZO opened at $3,801.30 on Wednesday. The firm’s 50-day moving average price is $4,141.67 and its 200-day moving average price is $3,879.18. The stock has a market capitalization of $63.79 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.79 and a beta of 0.40. AutoZone has a 12-month low of $2,980.10 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $50.52 by ($1.81). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the prior year, the company posted $51.58 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that AutoZone will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has authorized a share buyback program on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at AutoZone

In other news, CEO Philip B. Daniele sold 2,533 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the transaction, the chief executive officer directly owned 55 shares of the company’s stock, valued at approximately $221,148.40. This trade represents a 97.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Institutional investors have recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after buying an additional 14 shares during the period. GAMMA Investing LLC increased its holdings in AutoZone by 14.1% during the first quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock valued at $770,000 after buying an additional 25 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in AutoZone by 14.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,091 shares of the company’s stock valued at $11,785,000 after buying an additional 389 shares during the period. Asset Management One Co. Ltd. increased its holdings in AutoZone by 5.7% during the first quarter. Asset Management One Co. Ltd. now owns 6,864 shares of the company’s stock valued at $26,171,000 after buying an additional 373 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in AutoZone during the first quarter valued at approximately $103,000. 92.74% of the stock is 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.