AutoZone (NYSE:AZO) Upgraded by BNP Paribas to Strong-Buy

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

Several other equities research analysts also recently weighed in on AZO. UBS Group increased their target price 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. Guggenheim increased their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the stock a buy rating in a research report on Wednesday. Wedbush reiterated an outperform rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Morgan Stanley upped their price target on AutoZone from $3,038.00 to $3,125.00 and gave the stock an overweight rating in a research note on Wednesday. Finally, Oppenheimer reiterated a market perform rating and issued a $2,600.00 price objective on shares of AutoZone in a research report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $3,169.38.

AutoZone Trading Up 0.2 %

Shares of NYSE AZO opened at $3,196.61 on Wednesday. The stock has a market cap of $54.61 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.43 and a beta of 0.71. AutoZone has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The stock has a 50 day moving average of $3,121.63 and a two-hundred day moving average of $3,012.27.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. During the same quarter last year, the company earned $46.46 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts predict that AutoZone will post 151.08 earnings per share for the current year.

Insider Buying and Selling

In other news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

A number of hedge funds have recently bought and sold shares of AZO. Rise Advisors LLC acquired a new stake in AutoZone in the 1st quarter worth about $32,000. Riverview Trust Co acquired a new stake in shares of AutoZone in the first quarter worth approximately $41,000. Meeder Asset Management Inc. boosted its position in shares of AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in AutoZone in the second quarter valued at approximately $50,000. Finally, ORG Partners LLC acquired a new position in AutoZone during the second quarter worth approximately $50,000. 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.