AutoZone (NYSE:AZO) PT Raised to $2,660.00

AutoZone (NYSE:AZOGet Rating) had its target price boosted by JPMorgan Chase & Co. from $2,550.00 to $2,660.00 in a report released on Tuesday, The Fly reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also commented on the company. MKM Partners assumed coverage on AutoZone in a research report on Thursday, June 23rd. They issued a buy rating and a $2,350.00 target price for the company. DA Davidson boosted their price target on AutoZone from $1,900.00 to $1,920.00 and gave the stock a neutral rating in a research report on Wednesday, May 25th. Stephens boosted their price objective on AutoZone from $2,195.00 to $2,285.00 and gave the stock an overweight rating in a research note on Thursday, May 26th. Citigroup boosted their target price on AutoZone from $2,250.00 to $2,520.00 and gave the stock a buy rating in a research report on Tuesday. Finally, UBS Group upped their price target on AutoZone from $2,100.00 to $2,260.00 and gave the company a neutral rating in a research report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of Moderate Buy and a consensus target price of $2,234.41.

AutoZone Stock Up 1.6 %

AZO opened at $2,131.47 on Tuesday. The firm has a market cap of $41.54 billion, a P/E ratio of 18.91, a PEG ratio of 1.54 and a beta of 0.78. AutoZone has a 52 week low of $1,605.97 and a 52 week high of $2,362.24. The business’s fifty day simple moving average is $2,189.77 and its 200 day simple moving average is $2,094.34.

AutoZone (NYSE:AZOGet Rating) last issued its quarterly earnings results on Monday, September 19th. The company reported $40.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $38.31 by $2.20. The firm had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.16 billion. AutoZone had a negative return on equity of 92.10% and a net margin of 15.21%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $35.72 EPS. As a group, equities analysts expect that AutoZone will post 115.12 EPS for the current fiscal year.

Insider Buying and Selling at AutoZone

In related news, CEO William C. Rhodes III sold 2,958 shares of AutoZone stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total value of $6,526,324.14. Following the sale, the chief executive officer now owns 15,935 shares of the company’s stock, valued at $35,157,868.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO William C. Rhodes III sold 2,958 shares of AutoZone stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total transaction of $6,526,324.14. Following the completion of the transaction, the chief executive officer now owns 15,935 shares in the company, valued at $35,157,868.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Domingo Hurtado sold 395 shares of AutoZone stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total value of $875,924.35. Following the transaction, the vice president now owns 362 shares of the company’s stock, valued at approximately $802,745.86. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On AutoZone

A number of institutional investors have recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of AutoZone in the first quarter valued at approximately $27,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $27,000. Tcwp LLC acquired a new stake in shares of AutoZone in the first quarter valued at approximately $30,000. Kings Point Capital Management acquired a new stake in shares of AutoZone in the first quarter valued at approximately $31,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $36,000. Institutional investors own 92.90% of the company’s stock.

About AutoZone

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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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