AutoZone, Inc. (NYSE:AZO) Receives $3,202.71 Average Target Price from Analysts

AutoZone, Inc. (NYSE:AZO) has been given a consensus recommendation of “Buy” by the twenty-one analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $3,202.71.

A number of equities analysts have recently commented on AZO shares. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. UBS Group lifted their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Mizuho boosted their price target on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th.

Insiders Place Their Bets

In related news, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,880 shares of company stock valued at $46,225,660. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently modified their holdings of AZO. Capital Performance Advisors LLP bought a new stake in AutoZone in the third quarter valued at approximately $36,000. Meeder Asset Management Inc. increased its stake in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC bought a new stake in AutoZone in the third quarter valued at approximately $47,000. Darwin Wealth Management LLC bought a new stake in AutoZone in the third quarter valued at approximately $47,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in AutoZone in the second quarter valued at approximately $50,000. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Performance

NYSE:AZO opened at $3,111.17 on Wednesday. The company has a 50-day moving average of $3,112.04 and a 200-day moving average of $3,017.76. The company has a market capitalization of $52.58 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.54 and a beta of 0.71. AutoZone has a 52 week low of $2,510.00 and a 52 week high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. AutoZone’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $46.46 earnings per share. Sell-side analysts forecast that AutoZone will post 158.09 EPS for the current year.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.