AutoZone (NYSE:AZO) Given New $4,250.00 Price Target at TD Cowen

AutoZone (NYSE:AZO) had its price target lowered by TD Cowen from $4,400.00 to $4,250.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

AZO has been the subject of a number of other research reports. Morgan Stanley upped their price objective on AutoZone from $4,000.00 to $4,020.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Wolfe Research cut AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. The Goldman Sachs Group boosted their price target on AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Roth Mkm lowered their price objective on shares of AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4,312.13.

AutoZone Trading Down 2.0%

NYSE:AZO opened at $3,490.55 on Monday. AutoZone has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The company has a market cap of $57.84 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.82 and a beta of 0.41. The company has a 50 day simple moving average of $3,654.14 and a two-hundred day simple moving average of $3,794.52.

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

Insiders Place Their Bets

In other news, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the transaction, the director directly owned 3,564 shares of the company’s stock, valued at $11,910,852.36. The trade was a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of the business’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 value of $823,750.00. Following the transaction, the director owned 4,887 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders have sold 9,447 shares of company stock valued at $34,179,923. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AutoZone

Several large investors have recently added to or reduced their stakes in AZO. Raleigh Capital Management Inc. bought a new stake in shares of AutoZone during the 3rd quarter valued at $26,000. Turning Point Benefit Group Inc. bought a new position in AutoZone in the 3rd quarter worth $25,000. Global Trust Asset Management LLC increased its stake in AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after buying an additional 6 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in AutoZone during the third quarter valued at about $34,000. Finally, Torren Management LLC bought a new stake in AutoZone during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

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.