Barclays Trims AutoZone (NYSE:AZO) Target Price to $3,024.00

AutoZone (NYSE:AZOFree Report) had its price objective trimmed by Barclays from $3,100.00 to $3,024.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Evercore ISI dropped their price target on AutoZone from $3,300.00 to $3,250.00 and set an outperform rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of AutoZone from $3,000.00 to $3,200.00 and gave the stock an overweight rating in a research report on Wednesday, February 28th. UBS Group lowered their price target on shares of AutoZone from $3,465.00 to $3,340.00 and set a buy rating on the stock in a research report on Wednesday. Citigroup cut their price objective on AutoZone from $3,420.00 to $3,250.00 and set a buy rating for the company in a research report on Wednesday. Finally, DA Davidson increased their target price on AutoZone from $2,770.00 to $3,025.00 and gave the company a neutral rating in a report on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued 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.

View Our Latest Stock Report on AutoZone

AutoZone Trading Up 0.6 %

AZO stock opened at $2,792.90 on Thursday. The company’s 50-day moving average price is $3,009.41 and its 200 day moving average price is $2,829.02. AutoZone has a 52 week low of $2,277.88 and a 52 week high of $3,256.37. The company has a market cap of $48.37 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.39 and a beta of 0.72.

AutoZone (NYSE:AZOGet Free Report) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping the consensus estimate of $35.67 by $1.02. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the company earned $34.12 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts expect that AutoZone will post 151.5 earnings per share for the current year.

Insider Buying and Selling

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction on 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 transaction, the vice president now owns 2,921 shares in the company, valued at approximately $8,756,456.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the transaction, the vice president now directly owns 2,921 shares in the company, valued at approximately $8,756,456.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jenna M. Bedsole bought 36 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the acquisition, the vice president now directly owns 36 shares in the company, valued at approximately $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. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On AutoZone

A number of hedge funds have recently made changes to their positions in AZO. LGT Capital Partners LTD. increased its holdings in AutoZone by 32.2% in the 4th quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock valued at $70,458,000 after purchasing an additional 6,630 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of AutoZone by 49.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 155 shares of the company’s stock worth $401,000 after buying an additional 51 shares during the period. Headlands Technologies LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at about $145,000. Knights of Columbus Asset Advisors LLC grew its stake in shares of AutoZone by 17.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 1,701 shares of the company’s stock valued at $4,398,000 after buying an additional 255 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in AutoZone by 8.1% during the 4th quarter. Handelsbanken Fonder AB now owns 7,544 shares of the company’s stock worth $19,506,000 after acquiring an additional 566 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

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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Analyst Recommendations for AutoZone (NYSE:AZO)

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