AutoZone (NYSE:AZO) Price Target Raised to $4,125.00

AutoZone (NYSE:AZO) had its price target hoisted by Evercore from $4,100.00 to $4,125.00 in a research report sent to investors on Friday,MarketScreener reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. JPMorgan Chase & Co. raised their target price on shares of AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a research note on Thursday. Guggenheim cut their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Citigroup reduced their price target on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Finally, BMO Capital Markets lowered their price objective on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus target price of $4,280.63.

AutoZone Trading Up 2.5%

Shares of NYSE:AZO opened at $3,751.68 on Friday. The company has a market capitalization of $62.17 billion, a PE ratio of 26.16, a P/E/G ratio of 1.79 and a beta of 0.41. AutoZone has a 12-month low of $3,210.72 and a 12-month high of $4,388.11. The business’s fifty day simple moving average is $3,594.55 and its 200-day simple moving average is $3,829.06.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the company earned $32.52 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts predict that AutoZone will post 152.94 EPS for the current year.

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the sale, the vice president directly owned 2,627 shares in the company, valued at approximately $9,719,900. The trade was a 69.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares in the company, valued at $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders bought 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AutoZone

Several hedge funds have recently modified their holdings of AZO. NewSquare Capital LLC raised its holdings in AutoZone by 50.0% in the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after purchasing an additional 3 shares during the period. Westpac Banking Corp increased its position in shares of AutoZone by 2.6% in the second quarter. Westpac Banking Corp now owns 118 shares of the company’s stock valued at $438,000 after buying an additional 3 shares in the last quarter. AlphaCore Capital LLC raised its stake in shares of AutoZone by 42.9% during the 2nd quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock worth $37,000 after buying an additional 3 shares during the period. L2 Asset Management LLC lifted its position in shares of AutoZone by 4.2% during the 2nd quarter. L2 Asset Management LLC now owns 75 shares of the company’s stock valued at $278,000 after buying an additional 3 shares in the last quarter. Finally, AssuredPartners Investment Advisors LLC grew its stake in AutoZone by 2.5% in the 3rd quarter. AssuredPartners Investment Advisors LLC now owns 125 shares of the company’s stock valued at $536,000 after acquiring an additional 3 shares during the period. 92.74% of the stock is 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.