AutoZone (NYSE:AZO) Price Target Raised to $3,900.00

AutoZone (NYSE:AZO) had its price target raised by Citigroup from $3,500.00 to $3,900.00 in a report published on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and dropped their target price for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Wedbush reiterated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company raised their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Mizuho lifted their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,360.47.

AutoZone Trading Up 0.9 %

NYSE:AZO opened at $3,369.01 on Wednesday. The firm has a market capitalization of $56.95 billion, a PE ratio of 22.52, a PEG ratio of 1.73 and a beta of 0.71. AutoZone has a 1 year low of $2,510.00 and a 1 year high of $3,416.71. The firm’s fifty day simple moving average is $3,148.28 and its 200 day simple moving average is $3,061.08.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the firm posted $32.55 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts anticipate that AutoZone will post 154.29 EPS for the current fiscal year.

Insider Activity at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction dated 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 completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock valued at $46,225,660 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On AutoZone

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

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.