AutoZone (NYSE:AZO) PT Lowered to $2,174.00 at Truist Financial

AutoZone (NYSE:AZOGet Rating) had its price objective decreased by stock analysts at Truist Financial from $2,215.00 to $2,174.00 in a report issued on Wednesday, The Fly reports. Truist Financial’s price objective would suggest a potential upside of 13.99% from the company’s current price.

Several other brokerages have also recently issued reports on AZO. Wedbush reiterated an “outperform” rating on shares of AutoZone in a research report on Monday. JPMorgan Chase & Co. lifted their price target on AutoZone from $2,175.00 to $2,200.00 and gave the company an “overweight” rating in a research report on Wednesday, March 2nd. Zacks Investment Research cut AutoZone from a “strong-buy” rating to a “hold” rating and set a $2,096.00 price target on the stock. in a research report on Tuesday, February 8th. Raymond James lifted their price target on AutoZone from $2,100.00 to $2,400.00 and gave the company an “outperform” rating in a research report on Tuesday, April 19th. Finally, StockNews.com started coverage on AutoZone in a research report on Thursday, March 31st. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone has a consensus rating of “Buy” and an average target price of $2,063.47.

AZO traded down $3.00 during trading hours on Wednesday, hitting $1,907.22. The company’s stock had a trading volume of 1,492 shares, compared to its average volume of 193,934. AutoZone has a fifty-two week low of $1,367.96 and a fifty-two week high of $2,267.40. The firm has a market capitalization of $37.86 billion, a PE ratio of 17.31, a PEG ratio of 1.50 and a beta of 0.90. The company has a 50-day simple moving average of $2,037.36 and a 200 day simple moving average of $1,976.06.

AutoZone (NYSE:AZOGet Rating) last posted its earnings results on Tuesday, May 24th. The company reported $29.03 EPS for the quarter, beating the consensus estimate of $25.70 by $3.33. AutoZone had a negative return on equity of 109.21% and a net margin of 15.44%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the firm earned $26.48 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. Equities analysts expect that AutoZone will post 111.66 earnings per share for the current year.

In other news, EVP Preston Frazer sold 1,500 shares of AutoZone stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $2,220.00, for a total value of $3,330,000.00. Following the transaction, the executive vice president now directly owns 783 shares in the company, valued at $1,738,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Philip B. Daniele sold 100 shares of AutoZone stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $1,900.00, for a total value of $190,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,682 shares of company stock worth $16,146,334. Corporate insiders own 2.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in AZO. American Century Companies Inc. grew its position in AutoZone by 2,480.7% during the third quarter. American Century Companies Inc. now owns 4,155 shares of the company’s stock worth $7,055,000 after buying an additional 3,994 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in AutoZone by 84.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 946 shares of the company’s stock valued at $1,596,000 after purchasing an additional 432 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in AutoZone by 12.9% during the third quarter. First Republic Investment Management Inc. now owns 1,689 shares of the company’s stock valued at $2,868,000 after purchasing an additional 193 shares in the last quarter. Bank of Nova Scotia boosted its holdings in AutoZone by 7.4% during the third quarter. Bank of Nova Scotia now owns 3,867 shares of the company’s stock valued at $6,567,000 after purchasing an additional 265 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in AutoZone by 1.7% during the third quarter. Geode Capital Management LLC now owns 439,549 shares of the company’s stock valued at $745,026,000 after purchasing an additional 7,148 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Company Profile (Get Rating)

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

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