AutoZone (NYSE:AZO) PT Lowered to $3,340.00

AutoZone (NYSE:AZO) had its target price dropped by UBS Group from $3,465.00 to $3,340.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 20.25% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Truist Financial dropped their price objective on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays raised their price objective on shares of 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 raised their price target on shares of AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Wolfe Research dropped their price objective on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Mizuho reduced their target price on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3,066.53.

AutoZone Stock Up 0.2 %

Shares of NYSE:AZO opened at $2,777.54 on Wednesday. The business has a fifty day simple moving average of $3,015.95 and a 200 day simple moving average of $2,826.45. AutoZone has a 12-month low of $2,277.88 and a 12-month high of $3,256.37. The firm has a market cap of $48.11 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.40 and a beta of 0.72.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm posted $34.12 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities research analysts expect that AutoZone will post 152.27 EPS for the current year.

Insider Transactions at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the completion of the transaction, the vice president now owns 2,921 shares in the company, valued at approximately $8,756,456.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the transaction, the vice president now directly owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 6,700 shares of AutoZone 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 transaction of $21,374,474.00. Following the completion of the sale, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The disclosure for this sale can be found here. Insiders have sold 15,990 shares of company stock worth $50,335,193 in the last 90 days. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rock Creek Group LP bought a new stake in AutoZone during the 3rd quarter valued at $25,000. Rise Advisors LLC bought a new stake in shares of AutoZone during the 1st quarter valued at $32,000. Riverview Trust Co bought a new stake in shares of AutoZone during the first quarter valued at about $41,000. ORG Partners LLC purchased a new stake in shares of AutoZone in the third quarter worth about $43,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in AutoZone during the third quarter valued at approximately $51,000. Hedge funds and other institutional investors 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.