Analysts Set AutoZone, Inc. (NYSE:AZO) Price Target at $3,202.71

Shares of AutoZone, Inc. (NYSE:AZO) have earned a consensus recommendation of “Buy” from the twenty-two ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $3,216.44.

A number of analysts have weighed in on the stock. Wedbush restated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research report on Thursday, September 19th. Morgan Stanley boosted their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Truist Financial increased their target price on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research report on Monday, October 14th. DA Davidson reissued a “neutral” rating and set a $3,025.00 price target on shares of AutoZone in a research note on Monday, September 30th. Finally, UBS Group lifted their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th.

Insider Activity

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. This represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock worth $46,225,660 in the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of AutoZone

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mather Group LLC. grew its position in AutoZone by 1.8% in the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock worth $706,000 after purchasing an additional 4 shares in the last quarter. Conning Inc. boosted its stake in shares of AutoZone by 4.3% in the 2nd quarter. Conning Inc. now owns 98 shares of the company’s stock worth $290,000 after buying an additional 4 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of AutoZone by 14.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock valued at $95,000 after acquiring an additional 4 shares in the last quarter. Brighton Jones LLC increased its position in shares of AutoZone by 4.1% during the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after acquiring an additional 4 shares during the last quarter. Finally, Fidelis Capital Partners LLC lifted its holdings in AutoZone by 2.6% during the second quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock worth $490,000 after acquiring an additional 4 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.4 %

Shares of AutoZone stock opened at $3,192.44 on Friday. AutoZone has a 12-month low of $2,510.00 and a 12-month high of $3,256.37. The company has a market capitalization of $53.95 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 1.61 and a beta of 0.71. The firm’s 50-day moving average price is $3,126.70 and its two-hundred day moving average price is $3,041.13.

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

About AutoZone

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.