AutoZone (NYSE:AZO) Price Target Raised to $3,678.00

AutoZone (NYSE:AZO) had its price objective upped by Argus from $3,560.00 to $3,678.00 in a research report released on Thursday morning,Benzinga reports. Argus currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on AZO. Truist Financial raised their price target on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Roth Mkm restated a “buy” rating and set a $3,634.00 price objective on shares of AutoZone in a report on Wednesday, October 16th. The Goldman Sachs Group downgraded AutoZone from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Finally, Wells Fargo & Company raised their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3,400.32.

AutoZone Stock Performance

Shares of AZO stock opened at $3,268.78 on Thursday. 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 $54.86 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.73 and a beta of 0.71. The stock has a 50 day moving average price of $3,187.85 and a 200 day moving average price of $3,112.24.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the business posted $32.55 earnings per share. AutoZone’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that AutoZone will post 154.29 EPS for the current year.

Insider Transactions at AutoZone

In other news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of AutoZone

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in AutoZone by 17.2% during the 4th quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock worth $567,000 after acquiring an additional 26 shares during the period. Principal Financial Group Inc. lifted its position in AutoZone by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 21,907 shares of the company’s stock worth $69,008,000 after acquiring an additional 360 shares during the period. Lord Abbett & CO. LLC lifted its position in AutoZone by 108.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 21,201 shares of the company’s stock worth $66,784,000 after acquiring an additional 11,037 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in AutoZone during the 3rd quarter worth about $2,208,000. Finally, Franklin Resources Inc. lifted its position in AutoZone by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock worth $141,717,000 after acquiring an additional 6,898 shares during the period. Institutional investors and hedge funds 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.