AutoZone (NYSE:AZO) PT Raised to $3,400.00

AutoZone (NYSE:AZO) had its target price hoisted by Evercore ISI from $3,375.00 to $3,400.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Stephens upped their target price on AutoZone from $3,000.00 to $3,070.00 and gave the company an overweight rating in a report on Wednesday, December 6th. Truist Financial upped their price objective on shares of AutoZone from $3,027.00 to $3,363.00 and gave the company a buy rating in a research note on Wednesday, February 28th. DA Davidson lifted their target price on shares of AutoZone from $2,770.00 to $3,025.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. Mizuho began coverage on shares of AutoZone in a research report on Tuesday, March 19th. They set a buy rating and a $3,450.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on AutoZone from $3,000.00 to $3,200.00 and gave the stock an overweight rating in a report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $3,080.72.

AutoZone Stock Performance

AZO stock opened at $3,152.07 on Tuesday. The company has a market capitalization of $54.53 billion, a P/E ratio of 22.19, a PEG ratio of 1.69 and a beta of 0.70. The company has a fifty day moving average price of $2,912.84 and a 200-day moving average price of $2,699.29. AutoZone has a 52-week low of $2,277.88 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $26.08 by $2.81. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. AutoZone’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $24.64 EPS. As a group, sell-side analysts forecast that AutoZone will post 151.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Grant E. Mcgee sold 693 shares of AutoZone stock in a transaction dated 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 directly owns 251 shares in the company, valued at $666,189.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Grant E. Mcgee sold 693 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $2,654.14, for a total value of $1,839,319.02. Following the completion of the sale, the vice president now directly owns 251 shares of the company’s stock, valued at $666,189.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Philip B. Daniele sold 4,190 shares of AutoZone stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the transaction, the chief executive officer now directly owns 900 shares in the company, valued at approximately $2,845,512. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,797 shares of company stock worth $81,010,974. Insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

Several institutional investors have recently made changes to their positions in the company. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of AutoZone in the third quarter valued at approximately $25,000. Rock Creek Group LP purchased a new position in AutoZone during the third quarter valued at $25,000. First Capital Advisors Group LLC. bought a new stake in shares of AutoZone during the 2nd quarter valued at $32,000. Mascoma Wealth Management LLC bought a new stake in shares of AutoZone during the 3rd quarter valued at $38,000. Finally, MUFG Americas Holdings Corp grew its position in shares of AutoZone by 166.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after buying an additional 10 shares during the period. Institutional investors own 92.74% of the company’s stock.

AutoZone Company Profile

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.