Oppenheimer Reaffirms “Market Perform” Rating for AutoZone (NYSE:AZO)

Oppenheimer reaffirmed their market perform rating on shares of AutoZone (NYSE:AZO) in a research note released on Wednesday morning, Benzinga reports. Oppenheimer currently has a $2,600.00 price target on the stock.

A number of other research firms have also commented on AZO. DA Davidson boosted their price objective on AutoZone from $2,770.00 to $3,025.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. Citigroup lowered their price target on shares of AutoZone from $3,420.00 to $3,250.00 and set a buy rating for the company in a research report on Wednesday, May 22nd. Wedbush cut their price objective on shares of AutoZone from $3,400.00 to $3,200.00 and set an outperform rating on the stock in a report on Wednesday, May 22nd. StockNews.com cut shares of AutoZone from a buy rating to a hold rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of AutoZone from $3,000.00 to $3,200.00 and gave the company an overweight rating in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AutoZone currently has an average rating of Moderate Buy and a consensus price target of $3,112.88.

AutoZone Trading Up 0.3 %

Shares of NYSE:AZO opened at $2,964.10 on Wednesday. AutoZone has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The firm has a market capitalization of $50.63 billion, a PE ratio of 20.50, a PEG ratio of 1.47 and a beta of 0.71. The business’s 50 day moving average is $2,894.37 and its 200-day moving average is $2,863.15.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, beating the consensus estimate of $35.67 by $1.02. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the firm earned $34.12 EPS. AutoZone’s quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts predict that AutoZone will post 151.57 EPS for the current year.

Insider Transactions at AutoZone

In other news, VP Jenna M. Bedsole bought 36 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were bought at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the acquisition, the vice president now owns 36 shares in the company, valued at $99,255.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

Several hedge funds and other institutional investors have recently modified their holdings of the stock. HM Payson & Co. raised its position in shares of AutoZone by 6.9% in the first quarter. HM Payson & Co. now owns 24,266 shares of the company’s stock valued at $76,478,000 after buying an additional 1,566 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in AutoZone by 1.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 15,447 shares of the company’s stock valued at $49,257,000 after acquiring an additional 189 shares during the period. Boston Partners grew its position in shares of AutoZone by 1.7% in the 1st quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after buying an additional 6,226 shares during the last quarter. Cetera Advisors LLC increased its stake in shares of AutoZone by 9.8% in the first quarter. Cetera Advisors LLC now owns 2,201 shares of the company’s stock valued at $6,937,000 after buying an additional 196 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of AutoZone by 311.3% during the first quarter. Cetera Investment Advisers now owns 5,803 shares of the company’s stock worth $18,289,000 after buying an additional 4,392 shares during the period. Institutional investors 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.