AutoZone (NYSE:AZO) Price Target Raised to $4,600.00 at BMO Capital Markets

AutoZone (NYSE:AZO) had its target price raised by BMO Capital Markets from $4,100.00 to $4,600.00 in a research note released on Thursday, MarketBeat.com reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently commented on the stock. BNP Paribas Exane raised their target price on shares of AutoZone from $4,155.00 to $4,811.00 and gave the company an “outperform” rating in a research report on Wednesday. Citigroup cut their price objective on shares of AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating on the stock in a report on Wednesday. Mizuho boosted their price objective on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an “outperform” rating in a research note on Thursday, July 3rd. Wolfe Research initiated coverage on AutoZone in a research report on Thursday, September 18th. They set an “outperform” rating and a $4,741.00 target price on the stock. Finally, Truist Financial cut their price target on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a report on Wednesday. Two investment 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 stock. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Buy” and an average price target of $4,538.21.

AutoZone Stock Down 1.1%

AZO opened at $4,131.49 on Thursday. The stock’s fifty day moving average is $4,069.65 and its two-hundred day moving average is $3,812.91. The company has a market capitalization of $69.33 billion, a P/E ratio of 28.52, a PEG ratio of 2.31 and a beta of 0.41. AutoZone has a 52 week low of $2,980.10 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing the consensus estimate of $50.52 by ($1.81). The firm had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.AutoZone’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $51.58 earnings per share. Equities analysts anticipate that AutoZone will post 152.94 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction dated 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 transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of AutoZone

A number of institutional investors have recently bought and sold shares of AZO. Vanguard Group Inc. increased its stake in AutoZone by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,771,004 shares of the company’s stock valued at $6,574,374,000 after purchasing an additional 11,142 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of AutoZone by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock valued at $3,570,296,000 after buying an additional 65,368 shares during the last quarter. Laurel Wealth Advisors LLC increased its position in shares of AutoZone by 371,123.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after acquiring an additional 935,230 shares during the period. GAMMA Investing LLC raised its stake in AutoZone by 435,031.1% in the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company’s stock worth $2,936,535,000 after acquiring an additional 770,005 shares during the last quarter. Finally, State Street Corp lifted its position in AutoZone by 1.6% during the 2nd quarter. State Street Corp now owns 714,091 shares of the company’s stock worth $2,650,870,000 after acquiring an additional 11,088 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

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.