Wedbush Reiterates Outperform Rating for AutoZone (NYSE:AZO)

AutoZone (NYSE:AZO)‘s stock had its “outperform” rating reissued by Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $3,200.00 price target on the stock. Wedbush’s target price indicates a potential upside of 10.91% from the company’s current price.

A number of other analysts have also commented on the stock. StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Oppenheimer restated a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a report on Wednesday, June 26th. Mizuho decreased their price objective on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Wolfe Research dropped their target price on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. Finally, Evercore ISI lowered their price target on AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3,112.71.

AutoZone Trading Up 1.0 %

Shares of NYSE AZO opened at $2,885.15 on Wednesday. The firm has a market capitalization of $49.29 billion, a P/E ratio of 19.95, a P/E/G ratio of 1.42 and a beta of 0.71. The firm’s 50-day moving average price is $2,872.99 and its 200-day moving average price is $2,875.94. AutoZone has a 1-year low of $2,375.35 and a 1-year high of $3,256.37.

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

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Jenna M. Bedsole bought 36 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the purchase, the vice president now owns 36 shares of the company’s stock, valued at $99,255.60. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Summit Trail Advisors LLC lifted its stake in AutoZone by 3.8% in the 4th quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock worth $283,000 after purchasing an additional 4 shares in the last quarter. Guardian Capital LP lifted its position in shares of AutoZone by 1.3% in the fourth quarter. Guardian Capital LP now owns 301 shares of the company’s stock worth $778,000 after buying an additional 4 shares in the last quarter. Quent Capital LLC boosted its stake in AutoZone by 4.8% during the first quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after buying an additional 4 shares during the last quarter. Mather Group LLC. grew its holdings in AutoZone by 1.8% during the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after buying an additional 4 shares in the last quarter. Finally, TriaGen Wealth Management LLC raised its holdings in shares of AutoZone by 3.9% during the 4th quarter. TriaGen Wealth Management LLC now owns 133 shares of the company’s stock worth $344,000 after acquiring an additional 5 shares in the last quarter. Hedge funds and other 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.