AutoZone (NYSE:AZO) Price Target Raised to $3,900.00 at Citigroup

AutoZone (NYSE:AZO) had its price objective upped by analysts at Citigroup from $3,500.00 to $3,900.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 16.06% from the stock’s previous close.

AZO has been the topic of several other research reports. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Evercore ISI boosted their price target on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a report on Wednesday. Guggenheim raised their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research note on Wednesday. Mizuho boosted their target price on AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3,320.50.

AutoZone Stock Performance

Shares of AZO stock traded up $13.16 during midday trading on Wednesday, hitting $3,360.32. 51,428 shares of the company were exchanged, compared to its average volume of 139,383. AutoZone has a 52 week low of $2,510.00 and a 52 week high of $3,416.71. The firm has a market capitalization of $56.80 billion, a P/E ratio of 22.45, a PEG ratio of 1.70 and a beta of 0.71. The firm’s 50 day moving average price is $3,137.56 and its two-hundred day moving average price is $3,057.08.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the business posted $32.55 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts expect that AutoZone will post 155.79 EPS for the current year.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,880 shares of company stock valued at $46,225,660. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On AutoZone

A number of institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of AutoZone in the 3rd quarter worth approximately $36,000. Meeder Asset Management Inc. increased its holdings in AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after buying an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC bought a new position in shares of AutoZone during the 3rd quarter valued at approximately $47,000. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone during the 3rd quarter worth approximately $47,000. Finally, ORG Partners LLC bought a new stake in shares of AutoZone in the 2nd quarter worth approximately $50,000. 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.