AutoZone (NYSE:AZO) PT Lowered to $3,346.00

AutoZone (NYSE:AZO) had its price target cut by investment analysts at Evercore ISI from $3,400.00 to $3,346.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s target price points to a potential upside of 13.88% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Barclays increased their price target on AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. DA Davidson increased their price target on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Mizuho initiated coverage on AutoZone in a research report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 price target on the stock. TheStreet downgraded AutoZone from a “c” rating to a “d+” rating in a research report on Wednesday, December 20th. Finally, UBS Group increased their price target on AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,086.61.

AutoZone Stock Up 1.0 %

Shares of AZO opened at $2,938.26 on Tuesday. AutoZone has a 52 week low of $2,277.88 and a 52 week high of $3,256.37. The company has a market capitalization of $50.89 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.44 and a beta of 0.70. The stock’s 50-day moving average price is $2,994.12 and its 200-day moving average price is $2,752.63.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the prior year, the business earned $24.64 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts anticipate that AutoZone will post 151.98 EPS for the current fiscal year.

Insider Activity at AutoZone

In related news, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP K. Michelle Borninkhof sold 1,900 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $2,735.00, for a total value of $5,196,500.00. Following the sale, the senior vice president now directly owns 521 shares of the company’s stock, valued at approximately $1,424,935. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,890 shares of company stock valued at $55,531,693. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AutoZone

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton increased its stake in AutoZone by 8.2% during the third quarter. Rosenberg Matthew Hamilton now owns 53 shares of the company’s stock worth $135,000 after acquiring an additional 4 shares during the last quarter. CWM LLC boosted its position in shares of AutoZone by 1.3% during the third quarter. CWM LLC now owns 301 shares of the company’s stock worth $765,000 after buying an additional 4 shares during the period. Private Trust Co. NA boosted its position in shares of AutoZone by 2.9% during the third quarter. Private Trust Co. NA now owns 142 shares of the company’s stock worth $361,000 after buying an additional 4 shares during the period. Venturi Wealth Management LLC boosted its position in shares of AutoZone by 2.0% during the third quarter. Venturi Wealth Management LLC now owns 202 shares of the company’s stock worth $513,000 after buying an additional 4 shares during the period. Finally, Plancorp LLC boosted its position in shares of AutoZone by 3.0% during the third quarter. Plancorp LLC now owns 136 shares of the company’s stock worth $345,000 after buying an additional 4 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

About AutoZone

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.