AutoZone (NYSE:AZO) Stock Price Expected to Rise, Argus Analyst Says

AutoZone (NYSE:AZO) had its target price lifted by Argus from $3,560.00 to $3,678.00 in a research report report published on Thursday morning,Benzinga reports. Argus currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Truist Financial increased their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. TD Cowen increased their target price on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. UBS Group boosted their target price on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Evercore ISI lifted their target price on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have given 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 $3,400.32.

AutoZone Trading Up 1.5 %

AZO opened at $3,250.00 on Thursday. AutoZone has a 12 month low of $2,510.00 and a 12 month high of $3,416.71. The company has a 50 day moving average of $3,185.10 and a 200 day moving average of $3,109.99. The company has a market cap of $54.54 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share (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 analysts’ expectations of $4.30 billion. During the same quarter last year, the business posted $32.55 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts forecast that AutoZone will post 154.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman William C. Rhodes III sold 13,000 shares of the business’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 directly owns 13,857 shares in the company, valued at $43,055,777.55. The trade was a 48.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Several large investors have recently bought and sold shares of AZO. International Assets Investment Management LLC grew its stake in shares of AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after acquiring an additional 993,139 shares during the period. Geode Capital Management LLC increased its stake in shares of AutoZone by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after purchasing an additional 7,365 shares in the last quarter. Marshfield Associates raised its holdings in AutoZone by 0.5% in the 3rd quarter. Marshfield Associates now owns 169,586 shares of the company’s stock worth $534,204,000 after purchasing an additional 796 shares during the period. Legal & General Group Plc raised its stake in shares of AutoZone by 2.3% in the second quarter. Legal & General Group Plc now owns 150,698 shares of the company’s stock worth $446,684,000 after buying an additional 3,382 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in shares of AutoZone during the 2nd quarter valued at approximately $424,000. 92.74% of the stock is currently owned by 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.