AutoZone (NYSE:AZO) Given “Buy” Rating at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of AutoZone (NYSE:AZO) in a research note published on Wednesday morning, Benzinga reports. Roth Mkm currently has a $3,634.00 target price on the stock.

Other research analysts have also issued research reports about the stock. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Guggenheim raised their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. UBS Group lifted their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Truist Financial raised their price target on AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3,202.71.

AutoZone Trading Up 0.8 %

AutoZone stock opened at $3,182.07 on Wednesday. The company has a market capitalization of $54.36 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.59 and a beta of 0.70. AutoZone has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The stock’s 50 day moving average is $3,133.09 and its 200-day moving average is $3,007.35.

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

Insiders Place Their Bets

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the transaction, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John Scott Murphy sold 1,580 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,880 shares of company stock worth $46,225,660. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Verde Capital Management bought a new stake in shares of AutoZone during the third quarter valued at approximately $1,137,000. Raymond James & Associates grew its position in AutoZone by 0.4% in the 3rd quarter. Raymond James & Associates now owns 40,374 shares of the company’s stock valued at $127,180,000 after purchasing an additional 157 shares during the period. Blue Trust Inc. increased its stake in AutoZone by 127.0% during the 3rd quarter. Blue Trust Inc. now owns 84 shares of the company’s stock valued at $249,000 after purchasing an additional 47 shares in the last quarter. Mogy Joel R Investment Counsel Inc. raised its holdings in AutoZone by 35.8% during the third quarter. Mogy Joel R Investment Counsel Inc. now owns 4,930 shares of the company’s stock worth $15,530,000 after buying an additional 1,299 shares during the last quarter. Finally, Net Worth Advisory Group bought a new position in shares of AutoZone in the third quarter valued at $776,000. 92.74% of the stock is owned by institutional investors and hedge funds.

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.