AutoZone (NYSE:AZO) Given New $3,753.00 Price Target at Truist Financial

AutoZone (NYSE:AZO) had its price objective hoisted by analysts at Truist Financial from $3,501.00 to $3,753.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 12.17% from the stock’s previous close.

Several other research analysts have also recently weighed in on AZO. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Wedbush reaffirmed an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. Mizuho upped their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Wednesday. Evercore ISI raised their target price on AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,339.25.

AutoZone Trading Up 0.1 %

Shares of AZO opened at $3,345.71 on Wednesday. The company has a market cap of $56.56 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 1.70 and a beta of 0.71. The business’s fifty day simple moving average is $3,142.71 and its two-hundred day simple moving average is $3,059.09. AutoZone has a 12 month low of $2,510.00 and a 12 month high of $3,416.71.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the business earned $32.55 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that AutoZone will post 155.79 EPS for the current year.

Insider Transactions at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the firm’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 transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of AutoZone

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after acquiring an additional 60,483 shares during the last quarter. Verde Capital Management purchased a new position in shares of AutoZone in the 3rd quarter worth approximately $1,137,000. Mizuho Securities USA LLC raised its holdings in AutoZone by 592.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock valued at $29,012,000 after buying an additional 7,879 shares during the period. Swedbank AB lifted its position in AutoZone by 5.6% in the second quarter. Swedbank AB now owns 16,524 shares of the company’s stock worth $48,979,000 after buying an additional 869 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in AutoZone by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 104,665 shares of the company’s stock worth $329,699,000 after buying an additional 466 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

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.