AutoZone (NYSE:AZO) Receives Buy Rating from Roth Mkm

Roth Mkm reiterated their buy rating on shares of AutoZone (NYSE:AZO) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $3,634.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. Wedbush restated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. UBS Group lifted their target price on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Truist Financial increased their price target on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research report on Monday. Mizuho lifted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Finally, Oppenheimer reiterated a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,129.16 on Wednesday. AutoZone has a 52-week low of $2,375.35 and a 52-week high of $3,256.37. The business’s 50 day simple moving average is $3,131.84 and its two-hundred day simple moving average is $3,007.34. The firm has a market cap of $53.46 billion, a P/E ratio of 21.64, a PEG ratio of 1.59 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same period in the previous year, the business posted $46.46 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts forecast that AutoZone will post 157.99 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other news, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock valued at $46,225,660 over the last three months. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AutoZone

A number of large investors have recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in AutoZone in the 1st quarter worth approximately $32,000. Riverview Trust Co purchased a new stake in shares of AutoZone in the first quarter worth $41,000. Meeder Asset Management Inc. boosted its stake in AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after buying an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in AutoZone during the second quarter worth about $50,000. Finally, ORG Partners LLC bought a new position in AutoZone in the 2nd quarter worth about $50,000. 92.74% of the stock is currently owned by institutional investors.

About AutoZone

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.