AutoZone (NYSE:AZO) Price Target Raised to $3,753.00

AutoZone (NYSE:AZO) had its target price lifted by Truist Financial from $3,501.00 to $3,753.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the stock. Roth Mkm restated a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a report on Wednesday, October 16th. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company lifted their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. DA Davidson reiterated a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. Finally, Guggenheim reiterated a “buy” rating on shares of AutoZone in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3,360.47.

AutoZone Stock Performance

Shares of AZO stock opened at $3,369.01 on Wednesday. The stock has a 50 day moving average price of $3,148.28 and a 200 day moving average price of $3,061.08. The firm has a market capitalization of $56.95 billion, a P/E ratio of 22.52, a P/E/G ratio of 1.73 and a beta of 0.71. AutoZone has a 52-week low of $2,510.00 and a 52-week high of $3,416.71.

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

Insider Transactions at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were 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 directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. The trade was a 48.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock valued at $46,225,660 over the last ninety days. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On AutoZone

A number of hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of AutoZone during the third quarter worth about $36,000. Meeder Asset Management Inc. grew its holdings in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new stake in shares of AutoZone in the 3rd quarter valued at approximately $47,000. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone during the 3rd quarter worth $47,000. Finally, ORG Partners LLC acquired a new stake in AutoZone in the second quarter valued at $50,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

About AutoZone

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.