AutoZone (NYSE:AZO) PT Raised to $3,278.00

AutoZone (NYSE:AZOFree Report) had its price objective upped by Evercore ISI from $3,250.00 to $3,278.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on AZO. Mizuho decreased their price objective on AutoZone from $3,450.00 to $3,280.00 and set a buy rating for the company in a report on Wednesday, May 22nd. Citigroup decreased their price objective on AutoZone from $3,420.00 to $3,250.00 and set a buy rating for the company in a report on Wednesday, May 22nd. Truist Financial decreased their price objective on AutoZone from $3,523.00 to $3,394.00 and set a buy rating for the company in a report on Wednesday, May 22nd. Wedbush reduced their price target on AutoZone from $3,400.00 to $3,200.00 and set an outperform rating for the company in a report on Wednesday, May 22nd. Finally, StockNews.com cut AutoZone from a buy rating to a hold rating in a report on Friday, April 12th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $3,105.88.

View Our Latest Analysis on AZO

AutoZone Stock Performance

AutoZone stock opened at $2,990.35 on Thursday. The business’s 50-day simple moving average is $2,893.07 and its two-hundred day simple moving average is $2,854.96. The company has a market cap of $51.08 billion, a PE ratio of 20.68, a PEG ratio of 1.51 and a beta of 0.71. AutoZone has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZOGet Free Report) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating the consensus estimate of $35.67 by $1.02. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $34.12 EPS. As a group, analysts predict that AutoZone will post 151.57 EPS for the current fiscal year.

Insider Activity

In other news, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 15,357 shares in the company, valued at $48,992,208.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AutoZone news, VP Jenna M. Bedsole acquired 36 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $99,255.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $48,992,208.54. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Rock Creek Group LP acquired a new stake in shares of AutoZone in the third quarter valued at $25,000. Rise Advisors LLC acquired a new stake in shares of AutoZone in the first quarter valued at $32,000. Riverview Trust Co acquired a new stake in shares of AutoZone in the first quarter valued at $41,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at $54,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at $54,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

About AutoZone

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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.

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