AutoZone Offers Emergency Time Off for Employees

Analysts are still bullish on AZO stock

by Jake Scott

Published on Apr 7, 2020 at 10:05 AM

AutoZone, Inc (NYSE: AZO) announced a series of precautions it will take in response to COVID-19. One of those precautions included adding additional time off for eligible employees, with 80 hours for full-time employees and 40 hours for part-time. Additionally, AutoZone has also reduced most stores’ hours, increased cleaning and disinfecting, and now offers curbside pickup options. At last check, AZO stock is up .15% trading at $919.28.

Today's bump puts the security just above its 20-day moving average, a trendline that’s acted as pressure on the charts since early January. And while AZO stock still sits at a 26.5% deficit year-over-year, it did just recently bounce back from a nearly two-year low just above the $684 level.

AZO Chart

Analysts are bullish on AZO stock. Of the 13 analysts in coverage, nine rate it as a “buy” or better, while the remaining four sport a “hold” position. Mirroring this is the stock’s consensus 12-month price target of $1,104.60, which is a 26.2% premium of the stock’s current levels.

In the options pits, puts have been preferred in the last 10 days. AZO sports a 10-day put/call volume ratio of 2.28 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits above all but 1% of readings during the past 12 months. In other words, this ratio suggests a higher-than-usual appetite for puts.

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

3 Million to Lose Jobs – and Not Because of Coronavirus?
A terrifying new trend can make you a millionaire or destroy your financial future.
Wall Street Reclaims Two Key Trendlines This Week
U.S.-China tensions and dire economic data still weigh, though
Dell Stock Jumps on Upbeat First Quarter
DELL announced an upbeat first-quarter report
Research Exposes Shortcut to Stock Market Wins
A simple way to stop picking losers, and start cashing in like Wall Street's elite.