AutoZone (NYSE:AZO) Price Target Raised to $3,600.00

AutoZone (NYSE:AZO) had its price objective boosted by Mizuho from $3,550.00 to $3,600.00 in a research note issued to investors on Thursday, Marketbeat.com reports. Mizuho currently has a neutral rating on the stock.

A number of other equities research analysts have also recently issued reports on AZO. Guggenheim dropped their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Morgan Stanley upped their price objective on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an “overweight” rating in a research note on Wednesday. DA Davidson dropped their price objective on shares of AutoZone from $4,500.00 to $4,100.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Wells Fargo & Company cut their target price on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Finally, Wolfe Research downgraded AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $4,311.57.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,641.03 on Thursday. The business’s fifty day moving average price is $3,621.83 and its two-hundred day moving average price is $3,819.24. AutoZone has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The stock has a market capitalization of $60.33 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 1.86 and a beta of 0.41.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the company posted $28.29 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts expect that AutoZone will post 152.94 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP Richard Craig Smith sold 5,910 shares of the company’s 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 transaction, the vice president directly owned 2,627 shares in the company, valued at approximately $9,719,900. This represents a 69.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the firm’s 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 transaction of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This represents a 4.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have acquired 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of AutoZone by 14.4% during 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. Sivia Capital Partners LLC bought a new position in AutoZone in the second quarter valued at about $356,000. NewSquare Capital LLC increased its position in AutoZone by 50.0% in the second 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. Atlantic Union Bankshares Corp bought a new stake in AutoZone during the 2nd quarter worth about $4,202,000. Finally, Resona Asset Management Co. Ltd. raised its holdings in AutoZone by 2.5% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 7,231 shares of the company’s stock worth $26,751,000 after purchasing an additional 179 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

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.