The Goldman Sachs Group Increases AutoZone (NYSE:AZO) Price Target to $4,274.00

AutoZone (NYSE:AZO) had its target price upped by stock analysts at The Goldman Sachs Group from $4,234.00 to $4,274.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 18.64% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Zacks Research raised AutoZone from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. BNP Paribas Exane cut their target price on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. TD Cowen reduced their target price on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Truist Financial decreased their price target on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Finally, Citigroup cut their price objective on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4,296.25.

AutoZone Trading Down 3.2%

Shares of NYSE AZO opened at $3,602.35 on Wednesday. AutoZone has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The company has a market capitalization of $59.68 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 1.77 and a beta of 0.41. The firm has a 50-day moving average of $3,556.37 and a two-hundred day moving average of $3,848.33.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the firm earned $32.52 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts predict that AutoZone will post 152.94 earnings per share for the current year.

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the sale, the director owned 4,887 shares in the company, valued at $16,102,665. This represents a 4.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George R. Mrkonic, Jr. sold 97 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the transaction, the director owned 3,564 shares in the company, valued at approximately $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders bought 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. 2.60% of the stock is owned by company insiders.

Institutional Trading of AutoZone

Several hedge funds and other institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors LLC increased its position in AutoZone by 371,123.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after purchasing an additional 935,230 shares during the last quarter. Norges Bank bought a new stake in shares of AutoZone in the 2nd quarter valued at approximately $981,202,000. Vontobel Holding Ltd. increased its holdings in AutoZone by 277.3% in the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock worth $440,037,000 after buying an additional 75,382 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in AutoZone by 387.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after acquiring an additional 61,821 shares in the last quarter. Finally, Evelyn Partners Investment Management Services Ltd lifted its stake in AutoZone by 1,185.5% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock valued at $240,126,000 after acquiring an additional 59,653 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.