AutoZone (NYSE:AZO) Price Target Cut to $2,840.00

AutoZone (NYSE:AZO – Get Rating) had its price objective cut by The Goldman Sachs Group from $2,899.00 to $2,840.00 in a research report report published on Tuesday, The Fly reports.

Several other research firms also recently issued reports on AZO. Wells Fargo & Company boosted their price target on AutoZone from $2,850.00 to $3,000.00 in a research note on Monday, May 15th. Truist Financial upped their target price on AutoZone from $2,800.00 to $2,878.00 in a research report on Wednesday, March 1st. Citigroup upped their target price on AutoZone from $2,782.00 to $3,125.00 in a research report on Wednesday, May 17th. StockNews.com assumed coverage on AutoZone in a research report on Thursday, May 18th. They set a buy rating for the company. Finally, JPMorgan Chase & Co. upped their target price on AutoZone from $2,750.00 to $2,975.00 in a research report on Friday, May 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $2,717.41.

AutoZone Price Performance

AZO opened at $2,463.41 on Tuesday. The business has a fifty day simple moving average of $2,574.58 and a 200 day simple moving average of $2,499.95. The company has a market capitalization of $45.33 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.82 and a beta of 0.68. AutoZone has a 1 year low of $1,780.40 and a 1 year high of $2,750.00.

AutoZone (NYSE:AZO – Get Rating) last released its quarterly earnings results on Tuesday, May 23rd. The company reported $34.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $30.76 by $3.36. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.12 billion. AutoZone had a negative return on equity of 64.72% and a net margin of 14.32%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $29.03 EPS. Equities analysts anticipate that AutoZone will post 127.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, VP William R. Hackney sold 2,724 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $2,394.45, for a total value of $6,522,481.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Dennis W. Leriche sold 1,420 shares of the stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $2,573.04, for a total value of $3,653,716.80. Following the completion of the sale, the vice president now owns 379 shares of the company’s stock, valued at $975,182.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP William R. Hackney sold 2,724 shares of the stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $2,394.45, for a total value of $6,522,481.80. The disclosure for this sale can be found here. Insiders sold a total of 36,960 shares of company stock valued at $90,128,092 in the last 90 days. Corporate insiders own 2.59% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Several institutional investors and hedge funds have recently made changes to their positions in AZO. RB Capital Management LLC acquired a new stake in shares of AutoZone in the first quarter valued at about $274,000. Fairfield Bush & CO. bought a new stake in shares of AutoZone during the 1st quarter valued at about $57,000. Roundview Capital LLC boosted its position in shares of AutoZone by 8.1% during the 1st quarter. Roundview Capital LLC now owns 426 shares of the company’s stock valued at $871,000 after purchasing an additional 32 shares in the last quarter. Cetera Advisor Networks LLC boosted its position in shares of AutoZone by 31.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 237 shares of the company’s stock valued at $485,000 after purchasing an additional 57 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of AutoZone by 24.4% during the 1st quarter. Sei Investments Co. now owns 12,966 shares of the company’s stock valued at $26,331,000 after purchasing an additional 2,545 shares in the last quarter. Institutional investors and hedge funds own 91.12% of the company’s stock.

About AutoZone

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AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.