AutoZone (NYSE:AZO) Price Target Raised to $3,750.00

AutoZone (NYSE:AZO) had its target price upped by Guggenheim from $3,350.00 to $3,750.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also commented on AZO. Wells Fargo & Company increased their price target 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. UBS Group raised their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. DA Davidson reissued a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. Truist Financial raised their price target on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3,360.47.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,369.01 on Wednesday. The company’s fifty day moving average is $3,148.28 and its 200-day moving average is $3,061.08. AutoZone has a 52 week low of $2,510.00 and a 52 week high of $3,416.71. The company has a market capitalization of $56.95 billion, a PE ratio of 22.52, a P/E/G ratio of 1.73 and a beta of 0.71.

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

Insider Transactions at AutoZone

In other news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their position. 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 ninety days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AutoZone

Several hedge funds have recently added to or reduced their stakes in AZO. Capital Performance Advisors LLP bought a new position in shares of AutoZone in the third quarter valued at about $36,000. Meeder Asset Management Inc. boosted its holdings in shares of AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the period. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone in the third quarter valued at approximately $47,000. Darwin Wealth Management LLC bought a new stake in AutoZone in the 3rd quarter valued at $47,000. Finally, ORG Partners LLC bought a new stake in shares of AutoZone in the second quarter valued at about $50,000. 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.