AutoZone (NYSE:AZO) Price Target Raised to $2,450.00 at Jefferies Financial Group

AutoZone (NYSE:AZOGet Rating) had its price objective raised by Jefferies Financial Group from $2,350.00 to $2,450.00 in a research note published on Tuesday, The Fly reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on AZO. MKM Partners began coverage on AutoZone in a research note on Thursday, June 23rd. They issued a buy rating and a $2,350.00 price target on the stock. Wedbush increased their target price on AutoZone from $2,250.00 to $2,350.00 and gave the company an outperform rating in a report on Tuesday. UBS Group raised their price objective on AutoZone from $2,100.00 to $2,260.00 and gave the stock a neutral rating in a research note on Monday, September 12th. Morgan Stanley upgraded AutoZone from an equal weight rating to an overweight rating and raised their price target for the company from $2,125.00 to $2,420.00 in a report on Thursday, June 16th. Finally, The Goldman Sachs Group upgraded shares of AutoZone from a neutral rating to a buy rating and boosted their price objective for the company from $1,969.00 to $2,296.00 in a research report on Monday, June 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $2,234.41.

AutoZone Stock Up 1.6 %

Shares of AZO stock opened at $2,131.47 on Tuesday. AutoZone has a 52 week low of $1,605.97 and a 52 week high of $2,362.24. The firm has a 50 day moving average of $2,189.77 and a 200-day moving average of $2,094.34. The company has a market cap of $41.54 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.54 and a beta of 0.78.

AutoZone (NYSE:AZOGet Rating) last announced its quarterly earnings data on Monday, September 19th. The company reported $40.51 earnings per share for the quarter, topping the consensus estimate of $38.31 by $2.20. AutoZone had a negative return on equity of 92.10% and a net margin of 15.21%. The company had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same quarter last year, the firm posted $35.72 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts anticipate that AutoZone will post 115.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO William C. Rhodes III sold 2,958 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total transaction of $6,526,324.14. Following the transaction, the chief executive officer now owns 15,935 shares of the company’s stock, valued at $35,157,868.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AutoZone news, VP Domingo Hurtado sold 395 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total transaction of $875,924.35. Following the completion of the sale, the vice president now directly owns 362 shares in the company, valued at $802,745.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William C. Rhodes III sold 2,958 shares of the company’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total value of $6,526,324.14. Following the sale, the chief executive officer now owns 15,935 shares of the company’s stock, valued at $35,157,868.55. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of AutoZone in the 4th quarter worth approximately $27,000. Riverview Trust Co acquired a new position in shares of AutoZone during the 1st quarter valued at $27,000. Tcwp LLC acquired a new position in shares of AutoZone in the 1st quarter worth $30,000. Kings Point Capital Management acquired a new position in shares of AutoZone in the 1st quarter worth $31,000. Finally, Johnson Financial Group Inc. acquired a new position in shares of AutoZone in the 4th quarter worth $36,000. Institutional investors own 92.90% of the company’s stock.

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.

Featured Articles

The Fly logo

Analyst Recommendations for AutoZone (NYSE:AZO)

Receive News & Ratings for AutoZone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone and related companies with MarketBeat.com's FREE daily email newsletter.