Oppenheimer Releases a Buy Rating on AutoZone (AZO)

Oppenheimer analyst Brian Nagel assigned a Buy rating to AutoZone (AZO) today and set a price target of $1500.00. The company’s shares closed last Tuesday at $1155.60.

According to TipRanks.com, Nagel is a top 25 analyst with an average return of 23.7% and a 75.6% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Lululemon Athletica, and The Lovesac Company.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for AutoZone with a $1384.22 average price target, 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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AutoZone’s market cap is currently $28.15B and has a P/E ratio of 15.50. The company has a Price to Book ratio of -14.53.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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