AutoZone, Inc. (NYSE:AZO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

AutoZone, Inc. (NYSE:AZO) has earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $3,129.44.

Several research firms have commented on AZO. Wedbush reaffirmed an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Evercore ISI dropped their target price on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research note on Friday. Oppenheimer reissued a “market perform” rating and issued a $2,600.00 price target on shares of AutoZone in a research note on Wednesday, June 26th. Guggenheim upped their price objective on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday.

AutoZone Price Performance

AutoZone stock opened at $3,051.22 on Tuesday. The stock has a market capitalization of $52.12 billion, a P/E ratio of 21.10, a P/E/G ratio of 1.45 and a beta of 0.71. AutoZone has a 12-month low of $2,375.35 and a 12-month high of $3,256.37. The firm’s 50-day moving average is $3,107.86 and its two-hundred day moving average is $3,009.58.

Institutional Investors Weigh In On AutoZone

Large investors have recently modified their holdings of the stock. Rise Advisors LLC purchased a new position in AutoZone in the 1st quarter worth approximately $32,000. Riverview Trust Co acquired a new stake in AutoZone during the 1st quarter valued at $41,000. Meeder Asset Management Inc. increased its stake in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after buying an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in AutoZone in the 2nd quarter worth $50,000. Finally, ORG Partners LLC purchased a new position in AutoZone in the 2nd quarter valued at about $50,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

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.