AutoZone (NYSE:AZO) Price Target Raised to $3,800.00

AutoZone (NYSE:AZO) had its price objective raised by TD Cowen from $3,450.00 to $3,800.00 in a report published on Monday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Truist Financial increased their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. UBS Group increased their price target on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Morgan Stanley lifted their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. BMO Capital Markets initiated coverage on AutoZone in a report on Friday. They issued an “outperform” rating and a $3,700.00 price objective for the company. Finally, Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3,384.89.

AutoZone Stock Performance

NYSE:AZO opened at $3,353.67 on Monday. The stock’s fifty day moving average price is $3,161.08 and its two-hundred day moving average price is $3,073.34. The company has a market cap of $56.69 billion, a price-to-earnings ratio of 22.41, 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 announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 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 firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the business earned $32.55 earnings per share. AutoZone’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts predict that AutoZone will post 154.29 EPS for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. The trade was a 56.47 % decrease in their position. The sale 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 stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in shares of AutoZone in the 3rd quarter valued at about $36,000. Meeder Asset Management Inc. raised its stake in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after buying an additional 5 shares during the period. Carolina Wealth Advisors LLC bought a new stake in AutoZone in the third quarter valued at approximately $47,000. Darwin Wealth Management LLC acquired a new stake in shares of AutoZone in the third quarter valued at approximately $47,000. Finally, McIlrath & Eck LLC boosted its stake in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after acquiring an additional 4 shares during the period. 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.