AutoZone (NYSE:AZO) PT Lowered to $3,200.00 at Wedbush

AutoZone (NYSE:AZO) had its price objective lowered by Wedbush from $3,400.00 to $3,200.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the stock. Wedbush also issued estimates for AutoZone’s Q4 2024 earnings at $52.90 EPS, FY2024 earnings at $151.03 EPS, Q1 2025 earnings at $35.37 EPS, Q3 2025 earnings at $40.28 EPS, Q4 2025 earnings at $55.89 EPS, FY2025 earnings at $163.30 EPS and FY2026 earnings at $181.45 EPS.

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. raised their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the company an overweight rating in a research report on Wednesday, February 28th. Wolfe Research cut their price objective on AutoZone from $3,150.00 to $3,000.00 and set an outperform rating for the company in a research report on Wednesday. UBS Group dropped their price target on AutoZone from $3,465.00 to $3,340.00 and set a buy rating for the company in a research report on Wednesday. Barclays lifted their price target on AutoZone from $2,779.00 to $3,100.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Finally, DA Davidson lifted their price target on AutoZone from $2,770.00 to $3,025.00 and gave the stock a neutral rating in a research report on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $3,066.53.

AutoZone Stock Performance

Shares of AZO stock opened at $2,796.98 on Wednesday. The firm has a market capitalization of $48.44 billion, a PE ratio of 19.69, a PEG ratio of 1.37 and a beta of 0.72. The stock has a fifty day simple moving average of $3,009.41 and a two-hundred day simple moving average of $2,827.75. AutoZone has a 52-week low of $2,277.88 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating 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 last year, the business posted $34.12 earnings per share. On average, sell-side analysts forecast that AutoZone will post 152.27 EPS for the current fiscal year.

Insider Activity

In other news, Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jenna M. Bedsole acquired 36 shares of AutoZone stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the purchase, the vice president now directly owns 36 shares of the company’s stock, valued at $99,255.60. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 15,990 shares of company stock valued at $50,335,193. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On AutoZone

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in AutoZone by 232,194.6% in the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock worth $1,891,963,000 after purchasing an additional 731,413 shares during the last quarter. Norges Bank purchased a new position in AutoZone in the fourth quarter worth $678,350,000. Wellington Management Group LLP grew its holdings in AutoZone by 111.4% in the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after purchasing an additional 176,623 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of AutoZone by 564.2% during the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after buying an additional 129,193 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board grew its holdings in shares of AutoZone by 341.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 159,285 shares of the company’s stock valued at $404,582,000 after buying an additional 123,208 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

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.