AutoZone (NYSE:AZO) Given New $3,501.00 Price Target at Truist Financial

AutoZone (NYSE:AZO) had its price target lifted by Truist Financial from $3,341.00 to $3,501.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on AZO. Morgan Stanley raised their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. The Goldman Sachs Group cut shares of AutoZone from a “buy” rating to a “sell” rating and decreased their price objective for the company from $3,205.00 to $2,917.00 in a research report on Monday. StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Finally, Mizuho boosted their price target on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $3,202.71.

AutoZone Trading Up 0.9 %

Shares of AutoZone stock opened at $3,156.01 on Monday. The firm has a market capitalization of $53.91 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. AutoZone has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The business’s 50-day moving average price is $3,131.86 and its 200-day moving average price is $3,008.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period last year, the business posted $46.46 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. As a group, analysts predict that AutoZone will post 157.99 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other news, Chairman William C. Rhodes III sold 300 shares of the business’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 of the company’s stock, valued at $42,613,046.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman William C. Rhodes III sold 300 shares of the firm’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 owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the company’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. 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 quarter, insiders sold 14,880 shares of company stock valued at $46,225,660. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

A number of large investors have recently made changes to their positions in the stock. Aaron Wealth Advisors LLC grew its position in AutoZone by 34.1% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 122 shares of the company’s stock worth $384,000 after purchasing an additional 31 shares during the period. M3 Advisory Group LLC purchased a new position in shares of AutoZone in the 3rd quarter worth $255,000. Ellsworth Advisors LLC purchased a new stake in AutoZone during the third quarter valued at $246,000. Trust Co. of Vermont lifted its holdings in AutoZone by 3.5% in the third quarter. Trust Co. of Vermont now owns 497 shares of the company’s stock valued at $1,566,000 after acquiring an additional 17 shares during the period. Finally, Bleakley Financial Group LLC lifted its holdings in AutoZone by 5.3% in the third quarter. Bleakley Financial Group LLC now owns 475 shares of the company’s stock valued at $1,496,000 after acquiring an additional 24 shares during the period. 92.74% of the stock is currently owned by institutional investors.

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.