AutoZone (NYSE:AZO) Price Target Raised to $1,920.00

AutoZone (NYSE:AZOGet Rating) had its price objective hoisted by research analysts at DA Davidson from $1,900.00 to $1,920.00 in a report issued on Wednesday, The Fly reports. DA Davidson’s target price would indicate a potential upside of 0.67% from the stock’s current price. DA Davidson also issued estimates for AutoZone’s Q3 2022 earnings at $25.14 EPS, FY2022 earnings at $110.72 EPS and FY2023 earnings at $121.72 EPS.

AZO has been the topic of a number of other research reports. Citigroup boosted their price objective on AutoZone from $2,210.00 to $2,250.00 in a research note on Friday, May 13th. StockNews.com assumed coverage on AutoZone in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Wedbush reaffirmed an “outperform” rating on shares of AutoZone in a research note on Monday. Truist Financial decreased their price target on AutoZone from $2,329.00 to $2,215.00 in a research note on Wednesday, March 2nd. Finally, JPMorgan Chase & Co. upped their price target on AutoZone from $2,175.00 to $2,200.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $2,063.47.

Shares of AutoZone stock traded down $3.00 on Wednesday, reaching $1,907.22. The company’s stock had a trading volume of 1,492 shares, compared to its average volume of 193,934. The company has a market capitalization of $37.86 billion, a P/E ratio of 17.31, a PEG ratio of 1.50 and a beta of 0.90. AutoZone has a 52-week low of $1,367.96 and a 52-week high of $2,267.40. The stock has a 50-day moving average price of $2,037.36 and a 200-day moving average price of $1,976.06.

AutoZone (NYSE:AZOGet Rating) last posted its quarterly earnings data on Tuesday, May 24th. The company reported $29.03 EPS for the quarter, beating analysts’ consensus estimates of $25.70 by $3.33. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.71 billion. AutoZone had a negative return on equity of 109.21% and a net margin of 15.44%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $26.48 earnings per share. Research analysts expect that AutoZone will post 111.66 earnings per share for the current year.

In other news, EVP Philip B. Daniele sold 100 shares of the stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $1,890.00, for a total value of $189,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Preston Frazer sold 1,500 shares of the stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $2,220.00, for a total value of $3,330,000.00. Following the completion of the transaction, the executive vice president now owns 783 shares in the company, valued at approximately $1,738,260. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,682 shares of company stock worth $16,146,334. 2.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AZO. HighTower Trust Services LTA grew its stake in AutoZone by 2.4% during the 1st quarter. HighTower Trust Services LTA now owns 214 shares of the company’s stock worth $438,000 after buying an additional 5 shares during the last quarter. Parallel Advisors LLC grew its stake in AutoZone by 3.4% during the 1st quarter. Parallel Advisors LLC now owns 153 shares of the company’s stock worth $316,000 after buying an additional 5 shares during the last quarter. Glassman Wealth Services grew its stake in AutoZone by 10.5% during the 1st quarter. Glassman Wealth Services now owns 63 shares of the company’s stock worth $129,000 after buying an additional 6 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in AutoZone by 0.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,550 shares of the company’s stock worth $3,169,000 after buying an additional 6 shares during the last quarter. Finally, Penserra Capital Management LLC grew its stake in AutoZone by 9.9% during the 3rd quarter. Penserra Capital Management LLC now owns 78 shares of the company’s stock worth $132,000 after buying an additional 7 shares during the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.

AutoZone Company Profile (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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