Guggenheim Increases AutoZone (NYSE:AZO) Price Target to $3,225.00

AutoZone (NYSE:AZO) had its price target upped by Guggenheim from $3,150.00 to $3,225.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently commented on AZO. Oppenheimer reaffirmed a market perform rating and issued a $2,600.00 target price on shares of AutoZone in a research note on Wednesday. Wolfe Research dropped their price objective on AutoZone from $3,150.00 to $3,000.00 and set an outperform rating on the stock in a research note on Wednesday, May 22nd. Evercore ISI lifted their target price on AutoZone from $3,250.00 to $3,278.00 and gave the stock an outperform rating in a report on Thursday, June 20th. DA Davidson increased their price target on AutoZone from $2,770.00 to $3,025.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Finally, Mizuho cut their price objective on AutoZone from $3,450.00 to $3,280.00 and set a buy rating on the stock in a report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AutoZone has a consensus rating of Moderate Buy and an average price target of $3,112.88.

AutoZone Stock Up 0.3 %

Shares of AutoZone stock opened at $2,964.10 on Wednesday. The business has a fifty day simple moving average of $2,894.37 and a 200 day simple moving average of $2,864.56. The stock has a market cap of $50.63 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.48 and a beta of 0.71. AutoZone has a 12 month low of $2,375.35 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $35.67 by $1.02. The company 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 54.58% and a net margin of 14.60%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $34.12 EPS. Analysts expect that AutoZone will post 151.57 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other AutoZone news, VP Jenna M. Bedsole bought 36 shares of AutoZone stock in a transaction that occurred on Thursday, May 23rd. The stock was 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 owns 36 shares of the company’s stock, valued at approximately $99,255.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in 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 buying an additional 731,413 shares during the last quarter. Royal Bank of Canada raised its stake in AutoZone by 1.3% in the 3rd quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock valued at $1,121,572,000 after acquiring an additional 5,650 shares during the period. Boston Partners lifted its holdings in AutoZone by 1.7% during the 1st quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after purchasing an additional 6,226 shares during the last quarter. Wellington Management Group LLP boosted 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 worth $851,379,000 after purchasing an additional 176,623 shares during the period. Finally, Norges Bank acquired a new position in shares of AutoZone in the fourth quarter valued at $678,350,000. 92.74% of the stock is owned by institutional investors and hedge funds.

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.