AutoZone (NYSE:AZO) PT Lowered to $3,275.00

AutoZone (NYSE:AZO) had its price objective reduced by Evercore ISI from $3,278.00 to $3,275.00 in a research note published on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

AZO has been the topic of a number of other research reports. Mizuho cut their target price on shares of AutoZone from $3,450.00 to $3,280.00 and set a buy rating on the stock in a research report on Wednesday, May 22nd. Guggenheim raised their target price on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a buy rating in a research report on Wednesday, June 26th. Wedbush cut their target price on shares of AutoZone from $3,400.00 to $3,200.00 and set an outperform rating on the stock in a research report on Wednesday, May 22nd. Oppenheimer restated a market perform rating and issued a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Finally, Citigroup cut their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a buy rating on the stock in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $3,112.71.

AutoZone Price Performance

Shares of NYSE:AZO opened at $2,844.88 on Tuesday. The company’s 50 day simple moving average is $2,886.95 and its 200 day simple moving average is $2,868.46. The stock has a market capitalization of $48.59 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.71. AutoZone has a 1 year low of $2,375.35 and a 1 year high of $3,256.37.

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

Insider Activity at AutoZone

In other news, VP Jenna M. Bedsole bought 36 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the acquisition, the vice president now directly owns 36 shares in the company, valued at $99,255.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On AutoZone

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of AutoZone by 232,194.6% during the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock worth $1,891,963,000 after acquiring an additional 731,413 shares in the last quarter. Royal Bank of Canada increased its position in shares of AutoZone by 1.3% during the third quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock worth $1,121,572,000 after acquiring an additional 5,650 shares in the last quarter. Boston Partners increased its position in shares of AutoZone by 1.7% during the first quarter. Boston Partners now owns 382,169 shares of the company’s stock worth $1,202,596,000 after acquiring an additional 6,226 shares in the last quarter. Wellington Management Group LLP increased its position in shares of AutoZone by 111.4% during the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after acquiring an additional 176,623 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of AutoZone during the fourth quarter worth about $678,350,000. 92.74% of the stock is owned by institutional investors.

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.