AutoZone (NYSE:AZO) Lifted to “Strong-Buy” at BNP Paribas

BNP Paribas upgraded shares of AutoZone (NYSE:AZO) to a strong-buy rating in a report issued on Wednesday, Zacks.com reports.

Other analysts have also recently issued reports about the stock. Morgan Stanley upped their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an overweight rating in a research report on Wednesday. UBS Group upped their target price on AutoZone from $3,340.00 to $3,500.00 and gave the stock a buy rating in a research report on Wednesday. Wedbush reiterated an outperform rating and set a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. Mizuho upped their price target on AutoZone from $3,280.00 to $3,350.00 and gave the stock an outperform rating in a report on Wednesday. Finally, Guggenheim increased their price objective on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a buy rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $3,169.38.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,196.61 on Wednesday. The stock has a 50-day simple moving average of $3,121.63 and a 200-day simple moving average of $3,012.27. The stock has a market capitalization of $54.61 billion, a P/E ratio of 22.11, a PEG ratio of 1.43 and a beta of 0.71. 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, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period last year, the firm earned $46.46 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts predict that AutoZone will post 151.08 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Focus Financial Network Inc. ADV bought a new position in AutoZone during the fourth quarter worth $295,000. Scotia Capital Inc. boosted its holdings in shares of AutoZone by 10.9% in the 4th quarter. Scotia Capital Inc. now owns 1,101 shares of the company’s stock valued at $2,847,000 after buying an additional 108 shares during the period. Bank of Nova Scotia grew its position in shares of AutoZone by 22.7% during the 4th quarter. Bank of Nova Scotia now owns 8,519 shares of the company’s stock valued at $22,027,000 after buying an additional 1,578 shares during the last quarter. Winmill & CO. Inc. raised its stake in AutoZone by 0.6% during the fourth quarter. Winmill & CO. Inc. now owns 7,069 shares of the company’s stock worth $18,278,000 after acquiring an additional 39 shares during the period. Finally, KBC Group NV lifted its holdings in AutoZone by 16.6% in the fourth quarter. KBC Group NV now owns 11,172 shares of the company’s stock worth $28,886,000 after acquiring an additional 1,588 shares during the last quarter. 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.