AutoZone (NYSE:AZO) PT Lowered to $3,280.00

AutoZone (NYSE:AZO) had its target price trimmed by Mizuho from $3,450.00 to $3,280.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on the stock. Barclays upped their target price on shares of AutoZone from $2,779.00 to $3,100.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. Wedbush reiterated an outperform rating and issued a $3,400.00 target price on shares of AutoZone in a research note on Wednesday, May 15th. Truist Financial upped their target price on shares of AutoZone from $3,363.00 to $3,523.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. DA Davidson upped their target price on shares of AutoZone from $2,770.00 to $3,025.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. Finally, Evercore ISI reduced their price target on shares of AutoZone from $3,400.00 to $3,346.00 and set an outperform rating for the company in a research report on Tuesday, April 16th. 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. According to MarketBeat, AutoZone currently has a consensus rating of Moderate Buy and a consensus price target of $3,066.53.

AutoZone Trading Up 0.6 %

AZO opened at $2,792.90 on Wednesday. The company’s fifty day moving average price is $3,009.41 and its two-hundred day moving average price is $2,829.02. AutoZone has a 1-year low of $2,277.88 and a 1-year high of $3,256.37. The company has a market cap of $48.37 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.39 and a beta of 0.72.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping the consensus estimate of $35.67 by $1.02. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the company posted $34.12 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. As a group, equities analysts forecast that AutoZone will post 151.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 purchased 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 directly owns 36 shares of the company’s stock, valued at $99,255.60. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the sale, the vice president now directly owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jenna M. Bedsole purchased 36 shares of the stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the acquisition, the vice president now owns 36 shares of the company’s stock, valued at approximately $99,255.60. The disclosure for this purchase can be found here. Insiders sold 15,990 shares of company stock worth $50,335,193 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently modified their holdings of AZO. International Assets Investment Management LLC lifted its holdings in shares of 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 buying an additional 731,413 shares in the last quarter. Norges Bank bought a new stake in AutoZone during the fourth quarter valued at approximately $678,350,000. Wellington Management Group LLP lifted its position in AutoZone by 111.4% during the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after purchasing an additional 176,623 shares during the last quarter. Captrust Financial Advisors lifted its position in 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 purchasing an additional 129,193 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its position in 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 purchasing an additional 123,208 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other 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.