AutoZone’s (AZO) “Market Perform” Rating Reiterated at Oppenheimer

Oppenheimer restated their market perform rating on shares of AutoZone (NYSE:AZO) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $2,600.00 price objective on the stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price target 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. Evercore ISI upped their target price on AutoZone from $3,250.00 to $3,278.00 and gave the company an outperform rating in a research note on Thursday, June 20th. Wolfe Research dropped their price target on shares of AutoZone from $3,150.00 to $3,000.00 and set an outperform rating for the company in a research report on Wednesday, May 22nd. Barclays reduced their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an overweight rating on the stock in a report on Thursday, May 23rd. Finally, Wedbush lowered their price objective on shares of AutoZone from $3,400.00 to $3,200.00 and set an outperform rating for the company in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $3,112.88.

AutoZone Stock Performance

AZO stock opened at $2,964.10 on Wednesday. The company has a fifty day moving average of $2,894.37 and a 200-day moving average of $2,863.15. AutoZone has a one year low of $2,375.35 and a one year high of $3,256.37. The stock has a market capitalization of $50.63 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71.

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

Insiders Place Their Bets

In related news, VP Jenna M. Bedsole acquired 36 shares of AutoZone stock in a transaction that occurred 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 acquisition, the vice president now directly owns 36 shares of the company’s stock, valued at approximately $99,255.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AutoZone

Several hedge funds have recently made changes to their positions in AZO. Hohimer Wealth Management LLC raised its holdings in AutoZone by 1.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 361 shares of the company’s stock worth $917,000 after buying an additional 4 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of AutoZone by 3.8% in the fourth quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock valued at $283,000 after purchasing an additional 4 shares in the last quarter. Guardian Capital LP grew its stake in AutoZone by 1.3% during the 4th quarter. Guardian Capital LP now owns 301 shares of the company’s stock valued at $778,000 after acquiring an additional 4 shares in the last quarter. Quent Capital LLC increased its holdings in shares of AutoZone by 4.8% in the 1st quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after purchasing an additional 4 shares during the period. Finally, TriaGen Wealth Management LLC increased its stake in shares of AutoZone by 3.9% in the fourth quarter. TriaGen Wealth Management LLC now owns 133 shares of the company’s stock worth $344,000 after acquiring an additional 5 shares during the last quarter. 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.