AutoZone (NYSE:AZO) Given New $2,779.00 Price Target at Barclays

AutoZone (NYSE:AZOFree Report) had its price target decreased by Barclays from $2,800.00 to $2,779.00 in a research note published on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts also recently commented on the stock. Truist Financial raised their price objective on shares of AutoZone from $2,933.00 to $3,027.00 and gave the company a buy rating in a research report on Wednesday, December 6th. Wedbush restated an outperform rating and issued a $2,750.00 price objective on shares of AutoZone in a research report on Wednesday, November 29th. Morgan Stanley raised their price objective on shares of AutoZone from $2,750.00 to $2,900.00 and gave the company an overweight rating in a research report on Thursday, December 7th. TheStreet downgraded shares of AutoZone from a c rating to a d+ rating in a research report on Wednesday, December 20th. Finally, Raymond James upgraded shares of AutoZone from an outperform rating to a strong-buy rating and lifted their price target for the company from $2,850.00 to $3,100.00 in a research report on Wednesday, December 6th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $2,857.12.

Read Our Latest Stock Report on AZO

AutoZone Stock Performance

Shares of AZO stock opened at $2,704.59 on Monday. The stock’s 50-day moving average is $2,665.90 and its two-hundred day moving average is $2,588.67. The firm has a market cap of $46.76 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.39 and a beta of 0.70. AutoZone has a 1 year low of $2,277.88 and a 1 year high of $2,855.21.

AutoZone (NYSE:AZOGet Free Report) last issued its quarterly earnings data on Tuesday, December 5th. The company reported $32.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $31.57 by $0.98. AutoZone had a negative return on equity of 57.23% and a net margin of 14.62%. The company had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same quarter last year, the company posted $27.45 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts predict that AutoZone will post 150.5 EPS for the current year.

Insider Activity

In other news, Director George R. Mrkonic, Jr. sold 414 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $2,541.85, for a total transaction of $1,052,325.90. Following the completion of the sale, the director now directly owns 3,470 shares of the company’s stock, valued at approximately $8,820,219.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director George R. Mrkonic, Jr. sold 414 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $2,541.85, for a total transaction of $1,052,325.90. Following the completion of the sale, the director now directly owns 3,470 shares of the company’s stock, valued at approximately $8,820,219.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Charles Pleas III sold 3,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $2,717.36, for a total transaction of $8,152,080.00. Following the sale, the vice president now directly owns 3,416 shares of the company’s stock, valued at $9,282,501.76. The disclosure for this sale can be found here. Insiders sold 14,807 shares of company stock valued at $38,827,861 in the last ninety days. Company insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

Institutional investors have recently added to or reduced their stakes in the business. Householder Group Estate & Retirement Specialist LLC purchased a new stake in AutoZone during the 3rd quarter worth $25,000. Rock Creek Group LP purchased a new stake in AutoZone during the 3rd quarter worth $25,000. First Capital Advisors Group LLC. purchased a new stake in AutoZone during the 2nd quarter worth $32,000. MUFG Americas Holdings Corp lifted its holdings in AutoZone by 166.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after buying an additional 10 shares in the last quarter. Finally, Mascoma Wealth Management LLC acquired a new position in AutoZone in the 3rd quarter worth $38,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

AutoZone Company Profile

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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.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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