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What Wall Street Recommends for AutoZone

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Jan. 24 2019, Updated 3:39 p.m. ET

Analysts’ ratings

As of January 23, among the 23 analysts covering AutoZone (AZO) stock, 48% recommend a “buy,” 48% recommend a “hold,” and 4% recommend a “sell.”

AutoZone is a leading auto parts retailer in the United States. AutoZone has reported year-over-year sales growth in the last five quarters. The company continues to open new stores. It opened 13 new stores in the first quarter of fiscal 2019, taking the store count to 5,631 in the United States. AutoZone is also expanding its footprint in Mexico and Brazil.

Due to the strong financial performance, AutoZone stock rose 17.8% in 2018. As of January 23, the stock has lost 0.5%. The stock closed trading at $834.55.

So far in January, we’ve seen two changes for AutoZone. On January 23, Morgan Stanley raised its target price to $900.00 from $870.00. On January 9, RBC lowered its target price to $866.00 from $899.00.

Currently, analysts’ 12-month average target price for AutoZone stock is $919.00, which reflects 10.1% upside to the stock price on January 23.

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Ratings for other auto part retailers

Among the 23 analysts covering Advance Auto Parts (AAP), 61% recommended a “buy” while 39% recommended a “hold.” On January 9, Bank of America Merrill Lynch upgraded its rating on AAP to “buy.” However, on the same day, RBC cut its target price to $187.00 from $203.00. Advance Auto Parts’ mean price target is $196.76, which indicates a 19.7% upside to the stock’s price on January 23.

Among the 22 analysts covering O’Reilly Automotive Parts (ORLY) stock, 68% recommended a “buy” while 32% recommended a “hold.” On January 23, Morgan Stanley raised its target price to $365.00 from $355.00. O’Reilly Automotive Parts’ 12-month average target price is $366.32, which indicates a 5.3% upside.

Among the six analysts covering Group 1 Automotive (GPI) stock, 50% recommended a “buy” while 50% recommended a “hold.” The mean average target price for Group 1 Automotive stock is $77.40, which reflects a 29.4% upside.

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