Wolfe Research Trims AutoZone (NYSE:AZO) Target Price to $3,000.00

AutoZone (NYSE:AZO) had its price target reduced by Wolfe Research from $3,150.00 to $3,000.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also commented on AZO. StockNews.com lowered AutoZone from a buy rating to a hold rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price target on AutoZone from $3,000.00 to $3,200.00 and gave the company an overweight rating in a research note on Wednesday, February 28th. Barclays upped their price objective on AutoZone from $2,779.00 to $3,100.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Mizuho decreased their price objective on AutoZone from $3,450.00 to $3,280.00 and set a buy rating on the stock in a research report on Wednesday. Finally, Evercore ISI reduced their price target on AutoZone from $3,400.00 to $3,346.00 and set an outperform rating on the stock in a report on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AutoZone currently has an average rating of Moderate Buy and an average target price of $3,066.53.

AutoZone Stock Up 0.7 %

NYSE AZO opened at $2,796.98 on Wednesday. The firm has a market cap of $48.44 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 1.37 and a beta of 0.72. The business has a 50-day moving average price of $3,009.41 and a 200-day moving average price of $2,827.75. AutoZone has a twelve month low of $2,277.88 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $34.12 earnings per share. Research analysts expect that AutoZone will post 152.27 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the transaction, the chairman now owns 15,357 shares in the company, valued at approximately $48,992,208.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the transaction, the chairman now owns 15,357 shares in the company, valued at approximately $48,992,208.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Philip B. Daniele sold 4,190 shares of AutoZone stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the completion of the sale, the chief executive officer now owns 900 shares in the company, valued at $2,845,512. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock valued at $50,335,193 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AutoZone

Several institutional investors have recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of AutoZone by 70.3% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 201 shares of the company’s stock worth $511,000 after purchasing an additional 83 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of AutoZone by 471.4% during the 3rd quarter. Larson Financial Group LLC now owns 40 shares of the company’s stock worth $102,000 after purchasing an additional 33 shares during the last quarter. ORG Partners LLC acquired a new position in shares of AutoZone during the 3rd quarter worth approximately $43,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of AutoZone by 17.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 7,329 shares of the company’s stock worth $18,616,000 after purchasing an additional 1,066 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of AutoZone by 6.4% during the 3rd quarter. Signaturefd LLC now owns 413 shares of the company’s stock worth $1,049,000 after purchasing an additional 25 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

About AutoZone

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.