Monday, 2 October 2023

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Barclays Sticks to Its Buy Rating for AutoZone (AZO) – TipRanks Financial Blog

Barclays Sticks to Its Buy Rating for AutoZone (AZO) – TipRanks Financial Blog

In a report released today, Seth Sigman from Barclays maintained a Buy rating on AutoZone (AZOResearch Report), with a price target of $2,742.00. The company’s shares closed today at $2,475.12.

Sigman covers the Consumer Cyclical sector, focusing on stocks such as AutoZone, Home Depot, and Overstock. According to TipRanks, Sigman has an average return of -8.8% and a 52.87% success rate on recommended stocks.

In addition to Barclays, AutoZone also received a Buy from Citi’s Steven Zaccone in a report issued today. However, on the same day, Bank of America Securities reiterated a Hold rating on AutoZone (NYSE: AZO).

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Based on AutoZone’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $4.09 billion and a net profit of $647.72 million. In comparison, last year the company earned a revenue of $3.87 billion and had a net profit of $592.57 million

Based on the recent corporate insider activity of 60 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. Most recently, in July 2023, Charles Pleas, the Sr. VP Finance and Accounting of AZO sold 4,200.00 shares for a total of $10,695,506.08.

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.

Incorporated in 1979, Tennessee-based AutoZone, Inc. retails and distributes automotive replacement parts and accessories.

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