Brokerages Set AutoZone, Inc. (NYSE:AZO) Price Target at $3,104.13

Shares of AutoZone, Inc. (NYSE:AZO) have been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $3,104.13.

A number of research analysts have commented on the stock. Wedbush dropped their price objective on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. Mizuho lowered their target price on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. UBS Group cut their price target on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Barclays lowered their price objective on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Jenna M. Bedsole acquired 36 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the transaction, the vice president now directly owns 36 shares of the company’s stock, valued at $99,255.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AutoZone news, VP Jenna M. Bedsole bought 36 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the transaction, the vice president now owns 36 shares in the company, valued at approximately $99,255.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Daniele sold 4,190 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total transaction 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. Over the last 90 days, insiders have sold 12,990 shares of company stock valued at $41,341,913. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Several institutional investors and hedge funds have recently modified their holdings of AZO. Rock Creek Group LP purchased a new position in shares of AutoZone during the 3rd quarter worth about $25,000. Rise Advisors LLC acquired a new stake in shares of AutoZone in the first quarter worth $32,000. Riverview Trust Co purchased a new position in shares of AutoZone in the 1st quarter valued at $41,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of AutoZone during the 3rd quarter valued at $51,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in AutoZone during the 4th quarter worth $54,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.8 %

NYSE:AZO opened at $2,835.82 on Friday. AutoZone has a 52-week low of $2,375.35 and a 52-week high of $3,256.37. The stock’s 50 day moving average price is $2,897.55 and its 200 day moving average price is $2,842.09. The company has a market capitalization of $48.44 billion, a PE ratio of 19.61, a P/E/G ratio of 1.41 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the firm posted $34.12 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that AutoZone will post 151.57 EPS for the current fiscal year.

AutoZone Company Profile

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.