AutoZone (NYSE:AZO) Given New $4,850.00 Price Target at JPMorgan Chase & Co.

AutoZone (NYSE:AZO) had its price target increased by JPMorgan Chase & Co. from $4,200.00 to $4,850.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on AZO. Bank of America raised AutoZone from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. DA Davidson increased their price objective on AutoZone from $4,192.00 to $4,850.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Barclays increased their price objective on AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Guggenheim increased their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Finally, Roth Capital set a $4,135.00 price objective on AutoZone and gave the stock a “buy” rating in a research note on Monday, June 2nd. Three investment 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.com, AutoZone has an average rating of “Buy” and an average price target of $4,281.76.

AutoZone Stock Down 2.3%

Shares of NYSE:AZO opened at $4,223.32 on Monday. AutoZone has a 52-week low of $2,898.57 and a 52-week high of $4,388.11. The stock has a market cap of $70.87 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 2.28 and a beta of 0.41. The business’s 50 day moving average is $3,998.54 and its 200 day moving average is $3,783.60.

Insider Buying and Selling at AutoZone

In other news, VP Richard Craig Smith sold 3,000 shares of the 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 sale, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the 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 sale, the senior vice president owned 406 shares of the company’s stock, valued at approximately $1,460,434.78. This represents 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 company insiders.

Institutional Trading of AutoZone

Several hedge funds and other institutional investors have recently made changes to their positions in AZO. AlphaCore Capital LLC purchased a new stake in shares of AutoZone during the 1st quarter valued at $27,000. Saudi Central Bank purchased a new stake in shares of AutoZone during the 1st quarter valued at $27,000. Aspect Partners LLC lifted its holdings in shares of AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares during the last quarter. Bank of Jackson Hole Trust purchased a new stake in shares of AutoZone during the 2nd quarter valued at $33,000. Finally, NewSquare Capital LLC lifted its holdings in shares of AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $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.

AutoZone Company Profile

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.