AutoZone (NYSE:AZO) Price Target Increased to $2,285.00 by Analysts at Stephens

AutoZone (NYSE:AZOGet Rating) had its price objective upped by analysts at Stephens from $2,195.00 to $2,285.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the stock. Stephens’ price target would suggest a potential upside of 16.31% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $2,210.00 price target for the company in a report on Tuesday, March 29th. StockNews.com started coverage on AutoZone in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Morgan Stanley increased their price target on AutoZone from $2,050.00 to $2,125.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 2nd. Zacks Investment Research downgraded shares of AutoZone from a “strong-buy” rating to a “hold” rating and set a $2,096.00 price target on the stock. in a research note on Tuesday, February 8th. Finally, DA Davidson upped their price target on AutoZone from $1,900.00 to $1,920.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $2,067.42.

Shares of NYSE AZO opened at $1,964.66 on Thursday. The stock has a market cap of $39.00 billion, a PE ratio of 17.83, a P/E/G ratio of 1.50 and a beta of 0.90. AutoZone has a 12-month low of $1,367.96 and a 12-month high of $2,267.40. The company has a 50-day moving average of $2,037.74 and a 200 day moving average of $1,975.98.

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

In related news, EVP Preston Frazer sold 1,500 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 783 shares in the company, valued at approximately $1,738,260. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Philip B. Daniele sold 100 shares of AutoZone stock in a transaction on 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. In the last 90 days, insiders sold 7,682 shares of company stock valued at $16,146,334. 2.60% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Baird Financial Group Inc. raised its stake in AutoZone by 2.6% in the 4th quarter. Baird Financial Group Inc. now owns 1,487 shares of the company’s stock valued at $3,117,000 after purchasing an additional 38 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of AutoZone by 17.2% during the fourth quarter. Aptus Capital Advisors LLC now owns 1,377 shares of the company’s stock worth $2,887,000 after buying an additional 202 shares in the last quarter. Natixis raised its position in shares of AutoZone by 1,646.7% in the third quarter. Natixis now owns 5,764 shares of the company’s stock valued at $9,787,000 after buying an additional 5,434 shares during the last quarter. FDx Advisors Inc. lifted its stake in shares of AutoZone by 58.0% during the fourth quarter. FDx Advisors Inc. now owns 278 shares of the company’s stock valued at $583,000 after buying an additional 102 shares during the period. Finally, HighTower Advisors LLC boosted its position in AutoZone by 313.9% during the third quarter. HighTower Advisors LLC now owns 43,045 shares of the company’s stock worth $73,034,000 after acquiring an additional 32,644 shares during the last quarter. 95.97% of the stock is owned by institutional investors and hedge funds.

About AutoZone (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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