Trade Report: The AutoZone Inc. (AZO) Receives $860.67 Average PT from Brokerages

The AutoZone Inc. (AZO) Receives $860.67 Average PT from Brokerages

Shares of AutoZone Inc. (NYSE:AZO) have been assigned a consensus recommendation of “Buy” from the twenty-three research firms that are presently covering the stock. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $860.67.

AZO has been the topic of several research reports. Zacks Investment Research raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $889.00 price target on the stock in a research report on Wednesday, November 23rd. Credit Suisse Group AG set a $870.00 price target on shares of AutoZone and gave the company a “buy” rating in a research report on Saturday, September 17th. Barclays PLC reaffirmed an “overweight” rating and set a $870.00 price objective on shares of AutoZone in a research note on Sunday, September 25th. Argus reaffirmed a “buy” rating and set a $875.00 price objective on shares of AutoZone in a research note on Saturday, October 22nd. Finally, Goldman Sachs Group Inc. set a $841.00 price objective on shares of AutoZone and gave the company a “hold” rating in a research note on Monday, September 19th.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Bank of Australia raised its position in shares of AutoZone by 27.6% in the third quarter. Commonwealth Bank of Australia now owns 162 shares of the company’s stock valued at $125,000 after buying an additional 35 shares during the period. Invictus RG raised its position in shares of AutoZone by 489.7% in the second quarter. Invictus RG now owns 171 shares of the company’s stock valued at $136,000 after buying an additional 142 shares during the period. Global X Management Co. LLC raised its position in shares of AutoZone by 89.1% in the second quarter. Global X Management Co. LLC now owns 174 shares of the company’s stock valued at $138,000 after buying an additional 82 shares during the period. First Personal Financial Services raised its position in shares of AutoZone by 126.3% in the second quarter. First Personal Financial Services now owns 215 shares of the company’s stock valued at $171,000 after buying an additional 120 shares during the period. Finally, Alpha Windward LLC raised its position in shares of AutoZone by 0.8% in the third quarter. Alpha Windward LLC now owns 242 shares of the company’s stock valued at $186,000 after buying an additional 2 shares during the period. Institutional investors and hedge funds own 94.06% of the company’s stock.

AutoZone (NYSE:AZO) opened at 797.96 on Wednesday. The company has a 50-day moving average of $753.08 and a 200 day moving average of $767.66. AutoZone has a 52 week low of $681.01 and a 52 week high of $819.54. The company has a market cap of $23.03 billion, a P/E ratio of 19.61 and a beta of 0.61.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Thursday, September 22nd. The company reported $14.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.25 by $0.05. AutoZone had a net margin of 11.67% and a negative return on equity of 69.23%. The company had revenue of $3.40 billion for the quarter. During the same period last year, the firm earned $12.75 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts forecast that AutoZone will post $45.44 EPS for the current fiscal year.

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