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

AutoZone (NYSE:AZO) had its price objective hoisted by stock analysts at Guggenheim from $3,150.00 to $3,225.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 9.15% from the company’s previous close.

AZO has been the topic of a number of other research reports. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a report on Wednesday. Wolfe Research dropped their price target on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. Truist Financial dropped their price target on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. increased their price target on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Finally, Mizuho dropped their price target on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,112.88.

AutoZone Stock Up 0.9 %

NYSE:AZO opened at $2,954.76 on Wednesday. The business’s 50 day moving average is $2,895.17 and its two-hundred day moving average is $2,860.20. AutoZone has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The company has a market cap of $50.48 billion, a PE ratio of 20.44, a P/E/G ratio of 1.47 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the business posted $34.12 EPS. AutoZone’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone will post 151.57 EPS for the current fiscal year.

Insider Activity at AutoZone

In other news, VP Jenna M. Bedsole purchased 36 shares of the stock in a transaction dated Thursday, May 23rd. The shares were bought at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the transaction, the vice president now owns 36 shares in the company, valued at $99,255.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On AutoZone

Several hedge funds have recently modified their holdings of AZO. International Assets Investment Management LLC increased its position in shares of AutoZone by 232,194.6% during the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after purchasing an additional 731,413 shares during the period. Norges Bank bought a new stake in shares of AutoZone during the 4th quarter worth $678,350,000. Wellington Management Group LLP boosted its stake in shares of AutoZone by 111.4% during the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after acquiring an additional 176,623 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of AutoZone by 564.2% during the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after acquiring an additional 129,193 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of AutoZone by 106.7% during the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after acquiring an additional 60,852 shares in the last quarter. 92.74% of the stock is currently 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.