After Wells Fargo and UBS gave AutoZone (NYSE: AZO) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Brian Nagel maintained a Buy rating on AutoZone yesterday. The company’s shares closed last Monday at $723.22, close to its 52-week low of $684.91.
According to TipRanks.com, Nagel is a 5-star analyst with an average return of 5.0% and a 58.3% success rate. Nagel covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Advance Auto Parts, and Lumber Liquidators.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for AutoZone with a $1171.30 average price target, representing a 64.6% upside. In a report issued on March 16, Wedbush also upgraded the stock to Buy with a $1120.00 price target.
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The company has a one-year high of $1274.41 and a one-year low of $684.91. Currently, AutoZone has an average volume of 295.8K.
Based on the recent corporate insider activity of 53 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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