AutoZone (AZO) Received its Third Buy in a Row

After Atlantic Equities and Wells Fargo gave AutoZone (NYSE: AZO) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Matthew McClintock maintained a Buy rating on AutoZone today. The company’s shares closed last Tuesday at $1166.71.

According to, McClintock is a 4-star analyst with an average return of 7.9% and a 58.7% success rate. McClintock covers the Consumer Goods sector, focusing on stocks such as Floor & Decor Holdings, Dick’s Sporting Goods, and Lululemon Athletica.

AutoZone has an analyst consensus of Strong Buy, with a price target consensus of $1384.22, representing a 13.1% upside. In a report issued on September 8, Atlantic Equities also upgraded the stock to Buy with a $1425.00 price target.

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Based on AutoZone’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $2.78 billion and net profit of $343 million. In comparison, last year the company earned revenue of $2.78 billion and had a net profit of $406 million.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AZO in relation to earlier this year.

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AutoZone, Inc. engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry. The company was founded by Joseph R. Hyde, III on July 4, 1979 and is headquartered in Memphis, TN.

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