AutoZone (NYSE:AZO) Now Covered by BMO Capital Markets

BMO Capital Markets assumed coverage on shares of AutoZone (NYSE:AZO) in a report published on Friday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $3,700.00 target price on the stock.

A number of other equities analysts also recently issued reports on the company. Roth Capital raised AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. DA Davidson reiterated a “neutral” rating and issued a $3,025.00 price objective on shares of AutoZone in a research report on Monday, September 30th. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. UBS Group upped their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Truist Financial raised their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3,360.47.

AutoZone Stock Performance

Shares of AZO opened at $3,370.27 on Friday. The stock has a market capitalization of $56.97 billion, a P/E ratio of 22.52, a P/E/G ratio of 1.73 and a beta of 0.71. AutoZone has a 1 year low of $2,510.00 and a 1 year high of $3,416.71. The company’s fifty day moving average is $3,155.07 and its two-hundred day moving average is $3,069.24.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $32.55 earnings per share. Sell-side analysts predict that AutoZone will post 154.29 EPS for the current year.

Insider Buying and Selling at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the firm’s 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 sale, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AZO. ORG Partners LLC acquired a new position in AutoZone in the second quarter valued at $50,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of AutoZone by 39.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 387 shares of the company’s stock valued at $1,147,000 after acquiring an additional 109 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of AutoZone by 428.6% during the 2nd quarter. Blue Trust Inc. now owns 37 shares of the company’s stock worth $117,000 after acquiring an additional 30 shares during the period. Raymond James & Associates boosted its position in shares of AutoZone by 4.6% in the second quarter. Raymond James & Associates now owns 40,217 shares of the company’s stock worth $119,207,000 after acquiring an additional 1,777 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in AutoZone by 89.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 11,000 shares of the company’s stock valued at $32,605,000 after purchasing an additional 5,180 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

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.