AutoZone (NYSE:AZO) Price Target Increased to $2,250.00 by Analysts at Citigroup

AutoZone (NYSE:AZOGet Rating) had its target price upped by research analysts at Citigroup from $2,210.00 to $2,250.00 in a research note issued on Friday, The Fly reports. Citigroup’s price target suggests a potential upside of 15.10% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. StockNews.com initiated coverage on AutoZone in a report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research downgraded AutoZone from a “strong-buy” rating to a “hold” rating and set a $2,096.00 target price on the stock. in a report on Tuesday, February 8th. Morgan Stanley boosted their target price on AutoZone from $2,050.00 to $2,125.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 2nd. Raymond James boosted their target price on AutoZone from $2,100.00 to $2,400.00 and gave the stock an “outperform” rating in a report on Tuesday, April 19th. Finally, JPMorgan Chase & Co. boosted their target price on AutoZone from $2,175.00 to $2,200.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, AutoZone has a consensus rating of “Buy” and an average target price of $2,075.11.

NYSE AZO opened at $1,954.76 on Friday. The stock’s 50 day moving average is $2,033.71 and its two-hundred day moving average is $1,968.80. The company has a market capitalization of $38.80 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.55 and a beta of 0.90. AutoZone has a 1-year low of $1,367.96 and a 1-year high of $2,267.40.

AutoZone (NYSE:AZOGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The company reported $22.30 earnings per share for the quarter, beating analysts’ consensus estimates of $17.79 by $4.51. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.16 billion. AutoZone had a negative return on equity of 109.21% and a net margin of 15.44%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $14.93 earnings per share. Equities analysts expect that AutoZone will post 111.56 EPS for the current year.

In other news, EVP Philip B. Daniele sold 480 shares of the stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $2,120.00, for a total transaction of $1,017,600.00. Following the completion of the transaction, the executive vice president now directly owns 319 shares in the company, valued at approximately $676,280. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Preston Frazer sold 1,500 shares of the stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $2,220.00, for a total transaction of $3,330,000.00. Following the transaction, the executive vice president now owns 783 shares of the company’s stock, valued at $1,738,260. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,682 shares of company stock valued at $16,146,334. Corporate insiders own 2.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Baird Financial Group Inc. lifted its stake in AutoZone by 2.6% in the 4th quarter. Baird Financial Group Inc. now owns 1,487 shares of the company’s stock valued at $3,117,000 after purchasing an additional 38 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in AutoZone by 17.2% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,377 shares of the company’s stock valued at $2,887,000 after purchasing an additional 202 shares during the last quarter. Natixis lifted its stake in AutoZone by 1,646.7% in the 3rd quarter. Natixis now owns 5,764 shares of the company’s stock valued at $9,787,000 after purchasing an additional 5,434 shares during the last quarter. FDx Advisors Inc. lifted its stake in AutoZone by 58.0% in the 4th quarter. FDx Advisors Inc. now owns 278 shares of the company’s stock valued at $583,000 after purchasing an additional 102 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in AutoZone by 313.9% in the 3rd quarter. HighTower Advisors LLC now owns 43,045 shares of the company’s stock valued at $73,034,000 after purchasing an additional 32,644 shares during the last quarter. Institutional investors own 95.97% of the company’s stock.

About AutoZone (Get Rating)

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

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