AutoZone, Inc. (NYSE:AZO) Given Consensus Recommendation of “Buy” by Analysts

AutoZone, Inc. (NYSE:AZO) has been given a consensus rating of “Buy” by the nineteen ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $1,567.06.

Several brokerages have issued reports on AZO. Raymond James lowered AutoZone from a “strong-buy” rating to an “outperform” rating and upped their target price for the stock from $1,700.00 to $1,750.00 in a research note on Tuesday, July 27th. cut their target price on AutoZone from $1,700.00 to $1,636.00 and set a “buy” rating for the company in a research note on Wednesday, June 2nd. Citigroup reiterated a “buy” rating and issued a $1,636.00 price objective (down previously from $1,700.00) on shares of AutoZone in a research report on Wednesday, June 2nd. Morgan Stanley downgraded AutoZone from an “overweight” rating to an “equal weight” rating and set a $1,650.00 price objective for the company. in a research report on Friday, August 27th. Finally, Royal Bank of Canada lowered their price objective on AutoZone from $1,596.00 to $1,565.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 26th.

In other AutoZone news, CEO William C. Rhodes III sold 4,492 shares of the stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $1,501.14, for a total value of $6,743,120.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ronald B. Griffin sold 7,017 shares of the stock in a transaction on Friday, July 16th. The stock was sold at an average price of $1,608.29, for a total value of $11,285,370.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,944 shares of company stock valued at $52,299,958. 2.80% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of AutoZone by 26.7% in the first quarter. JPMorgan Chase & Co. now owns 1,134,026 shares of the company’s stock worth $1,592,512,000 after acquiring an additional 239,250 shares during the last quarter. FMR LLC boosted its position in shares of AutoZone by 5.2% during the second quarter. FMR LLC now owns 904,253 shares of the company’s stock valued at $1,349,344,000 after buying an additional 44,384 shares during the last quarter. Boston Partners boosted its position in shares of AutoZone by 4.5% during the second quarter. Boston Partners now owns 774,139 shares of the company’s stock valued at $1,155,570,000 after buying an additional 33,680 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of AutoZone by 5.7% during the first quarter. Nordea Investment Management AB now owns 641,573 shares of the company’s stock valued at $906,626,000 after buying an additional 34,354 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of AutoZone by 0.7% during the second quarter. Geode Capital Management LLC now owns 432,401 shares of the company’s stock valued at $643,982,000 after buying an additional 3,048 shares during the last quarter. 87.65% of the stock is currently owned by hedge funds and other institutional investors.

AZO traded down $7.72 during midday trading on Monday, hitting $1,585.16. The stock had a trading volume of 221,064 shares, compared to its average volume of 201,915. The company has a market cap of $34.15 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94. The business has a fifty day moving average of $1,596.28 and a 200 day moving average of $1,486.05. AutoZone has a 1 year low of $1,085.85 and a 1 year high of $1,666.63.

AutoZone Company Profile

AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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