AutoZone (NYSE:AZO) Given New $4,800.00 Price Target at Wells Fargo & Company

AutoZone (NYSE:AZO) had its price target upped by Wells Fargo & Company from $4,200.00 to $4,800.00 in a research note issued to investors on Monday, MarketBeat.com reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Mizuho raised their target price on AutoZone from $3,740.00 to $4,050.00 and gave the company an “outperform” rating in a research note on Thursday, July 3rd. Truist Financial set a $3,995.00 target price on AutoZone in a research note on Friday, May 23rd. Roth Capital set a $4,135.00 target price on AutoZone and gave the company a “buy” rating in a research note on Monday, June 2nd. DA Davidson raised their target price on AutoZone from $4,192.00 to $4,850.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $4,100.00 target price (up previously from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $4,281.76.

AutoZone Stock Down 2.3%

AZO opened at $4,223.32 on Monday. The stock has a market cap of $70.87 billion, a PE ratio of 28.58, a PEG ratio of 2.28 and a beta of 0.41. The business has a 50 day moving average of $3,998.54 and a 200-day moving average of $3,783.60. AutoZone has a 52 week low of $2,898.57 and a 52 week high of $4,388.11.

Insiders Place Their Bets

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the transaction, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the transaction, the senior vice president owned 406 shares of the company’s stock, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AZO. AlphaCore Capital LLC purchased a new position in shares of AutoZone in the first quarter worth $27,000. Saudi Central Bank purchased a new position in shares of AutoZone in the first quarter worth $27,000. Aspect Partners LLC raised its stake in shares of AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in shares of AutoZone in the second quarter worth $33,000. Finally, NewSquare Capital LLC raised its stake in shares of AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after purchasing an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

About AutoZone

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.