AutoZone (NYSE:AZO) Price Target Cut to $4,800.00 by Analysts at UBS Group

AutoZone (NYSE:AZO) had its target price cut by UBS Group from $4,925.00 to $4,800.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Roth Capital raised their price target on AutoZone from $4,135.00 to $4,800.00 and gave the company a “buy” rating in a research report on Friday, September 19th. DA Davidson lifted their price target 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. Mizuho increased their price objective on shares of AutoZone from $3,740.00 to $4,050.00 and gave the company an “outperform” rating in a research note on Thursday, July 3rd. Finally, Citigroup lifted their target price on shares of AutoZone from $3,900.00 to $4,900.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, AutoZone has a consensus rating of “Buy” and a consensus target price of $4,519.46.

AutoZone Stock Performance

Shares of NYSE AZO opened at $4,176.31 on Wednesday. The firm has a market capitalization of $70.08 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.28 and a beta of 0.41. AutoZone has a fifty-two week low of $2,980.10 and a fifty-two week high of $4,388.11. The stock’s 50-day simple moving average is $4,060.00 and its 200-day simple moving average is $3,809.83.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. AutoZone’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $51.58 earnings per share. On average, sell-side analysts forecast that AutoZone will post 152.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction on Thursday, July 24th. The shares were 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 directly owned 2,925 shares of the company’s stock, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after acquiring an additional 14 shares during the last quarter. GTS Securities LLC lifted its holdings in shares of AutoZone by 103.5% in the 4th quarter. GTS Securities LLC now owns 125 shares of the company’s stock worth $400,000 after purchasing an additional 3,734 shares during the last quarter. Toronto Dominion Bank boosted its position in AutoZone by 13.9% during the 4th quarter. Toronto Dominion Bank now owns 7,136 shares of the company’s stock valued at $22,848,000 after purchasing an additional 871 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in AutoZone by 9.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,961 shares of the company’s stock worth $19,088,000 after buying an additional 508 shares during the last quarter. Finally, DSG Capital Advisors LLC acquired a new stake in AutoZone in the fourth quarter worth $7,931,000. 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.