Barclays Lowers AutoZone (NYSE:AZO) Price Target to $2,779.00

AutoZone (NYSE:AZOFree Report) had its price objective lowered by Barclays from $2,800.00 to $2,779.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

AZO has been the subject of several other research reports. Truist Financial upped their price target on shares of AutoZone from $2,933.00 to $3,027.00 and gave the company a buy rating in a research report on Wednesday, December 6th. Raymond James upgraded shares of AutoZone from an outperform rating to a strong-buy rating and upped their price target for the company from $2,850.00 to $3,100.00 in a research report on Wednesday, December 6th. William Blair restated an outperform rating on shares of AutoZone in a research report on Wednesday, December 13th. Stephens increased their target price on shares of AutoZone from $3,000.00 to $3,070.00 and gave the stock an overweight rating in a research report on Wednesday, December 6th. Finally, StockNews.com downgraded shares of AutoZone from a buy rating to a hold rating in a research report on Saturday, January 13th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $2,857.12.

Get Our Latest Research Report on AutoZone

AutoZone Price Performance

AZO stock opened at $2,704.59 on Monday. AutoZone has a 12 month low of $2,277.88 and a 12 month high of $2,855.21. The firm has a market cap of $46.76 billion, a PE ratio of 19.63, a P/E/G ratio of 1.39 and a beta of 0.70. The firm has a 50 day simple moving average of $2,665.90 and a 200 day simple moving average of $2,588.67.

AutoZone (NYSE:AZOGet Free Report) last issued its quarterly earnings results on Tuesday, December 5th. The company reported $32.55 EPS for the quarter, beating the consensus estimate of $31.57 by $0.98. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.19 billion. AutoZone had a net margin of 14.62% and a negative return on equity of 57.23%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $27.45 EPS. As a group, sell-side analysts expect that AutoZone will post 150.5 earnings per share for the current year.

Insider Activity at AutoZone

In related news, SVP K. Michelle Borninkhof sold 1,900 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $2,735.00, for a total value of $5,196,500.00. Following the transaction, the senior vice president now directly owns 521 shares in the company, valued at approximately $1,424,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP K. Michelle Borninkhof sold 1,900 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $2,735.00, for a total value of $5,196,500.00. Following the transaction, the senior vice president now directly owns 521 shares in the company, valued at approximately $1,424,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Grant E. Mcgee sold 693 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $2,654.14, for a total transaction of $1,839,319.02. Following the completion of the transaction, the vice president now owns 251 shares in the company, valued at $666,189.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,807 shares of company stock worth $38,827,861. 2.50% of the stock is owned by insiders.

Institutional Trading of AutoZone

A number of hedge funds have recently bought and sold shares of AZO. RB Capital Management LLC bought a new stake in AutoZone in the 1st quarter valued at $274,000. Fairfield Bush & CO. bought a new stake in AutoZone in the 1st quarter valued at $57,000. Roundview Capital LLC boosted its holdings in AutoZone by 8.1% in 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 during the period. Cetera Advisor Networks LLC lifted its holdings in shares of AutoZone by 31.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 237 shares of the company’s stock worth $485,000 after acquiring an additional 57 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of AutoZone by 24.4% during the 1st quarter. Sei Investments Co. now owns 12,966 shares of the company’s stock worth $26,331,000 after acquiring an additional 2,545 shares during the period. 90.34% of the stock is owned by institutional investors.

AutoZone Company Profile

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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.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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