AutoZone, Inc. (NYSE:AZO – Get Rating) has been given a consensus recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $2,164.38.
A number of research analysts have commented on the company. Citigroup increased their target price on AutoZone from $2,210.00 to $2,250.00 in a report on Friday, May 13th. Wedbush reaffirmed an “outperform” rating on shares of AutoZone in a report on Monday, May 23rd. Stephens increased their target price on AutoZone from $2,195.00 to $2,285.00 and gave the stock an “overweight” rating in a report on Thursday, May 26th. The Goldman Sachs Group raised AutoZone from a “neutral” rating to a “buy” rating and increased their target price for the stock from $1,969.00 to $2,296.00 in a report on Monday, June 27th. Finally, Truist Financial cut their price target on AutoZone from $2,215.00 to $2,174.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th.
AutoZone Stock Down 2.7 %
Shares of NYSE AZO opened at $2,163.02 on Monday. AutoZone has a fifty-two week low of $1,503.30 and a fifty-two week high of $2,362.24. The business has a 50 day moving average price of $2,182.87 and a two-hundred day moving average price of $2,063.90. The firm has a market cap of $42.15 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78.
Insider Activity at AutoZone
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In other news, CEO William C. Rhodes III sold 2,958 shares of AutoZone stock in a transaction on Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total transaction of $6,526,324.14. Following the transaction, the chief executive officer now directly owns 15,935 shares in the company, valued at approximately $35,157,868.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Domingo Hurtado sold 395 shares of AutoZone stock in a transaction on Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total transaction of $875,924.35. Following the transaction, the vice president now directly owns 362 shares in the company, valued at approximately $802,745.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William C. Rhodes III sold 2,958 shares of AutoZone stock in a transaction on Monday, July 18th. The shares were sold at an average price of $2,206.33, for a total value of $6,526,324.14. Following the transaction, the chief executive officer now owns 15,935 shares in the company, valued at $35,157,868.55. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
Hedge Funds Weigh In On AutoZone
A number of hedge funds have recently modified their holdings of AZO. Qube Research & Technologies Ltd boosted its position in shares of AutoZone by 722.8% in the fourth quarter. Qube Research & Technologies Ltd now owns 44,209 shares of the company’s stock worth $92,679,000 after buying an additional 38,836 shares during the period. Dorsey & Whitney Trust CO LLC boosted its position in shares of AutoZone by 10.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 254 shares of the company’s stock worth $532,000 after buying an additional 23 shares during the period. Shell Asset Management Co. boosted its position in shares of AutoZone by 25.5% in the fourth quarter. Shell Asset Management Co. now owns 876 shares of the company’s stock worth $1,836,000 after buying an additional 178 shares during the period. First Republic Investment Management Inc. boosted its position in shares of AutoZone by 149.6% in the fourth quarter. First Republic Investment Management Inc. now owns 4,216 shares of the company’s stock worth $8,838,000 after buying an additional 2,527 shares during the period. Finally, Baird Financial Group Inc. boosted its position in shares of AutoZone by 2.6% in the fourth quarter. Baird Financial Group Inc. now owns 1,487 shares of the company’s stock worth $3,117,000 after buying an additional 38 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.
About AutoZone
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.
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