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

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

AZO has been the topic of a number of other reports. UBS Group lifted their price objective on AutoZone from $3,100.00 to $3,425.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Mizuho began coverage on AutoZone in a research report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 price objective on the stock. Barclays lifted their price objective on AutoZone from $2,779.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Wedbush lifted their price objective on AutoZone from $2,950.00 to $3,400.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average target price of $3,086.61.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $2,938.26 on Tuesday. The stock 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 simple moving average is $2,994.12 and its two-hundred day simple moving average is $2,752.63. 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 for the quarter, compared to analysts’ expectations of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $24.64 earnings per share. As a group, equities analysts forecast that AutoZone will post 151.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, 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 value of $21,374,474.00. Following the sale, the chairman now owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other AutoZone news, 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 value of $21,374,474.00. Following the sale, the chairman now owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Eric S. Gould sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the transaction, the vice president now directly owns 910 shares in the company, valued at approximately $2,912,000. The disclosure for this sale can be found here. Insiders have sold a total of 17,890 shares of company stock valued at $55,531,693 in the last quarter. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AutoZone

Several large investors have recently modified their holdings of AZO. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of AutoZone during the 3rd quarter valued at approximately $25,000. Rock Creek Group LP bought a new position in shares of AutoZone during the 3rd quarter valued at approximately $25,000. Rise Advisors LLC bought a new position in shares of AutoZone during the 1st quarter valued at approximately $32,000. First Capital Advisors Group LLC. bought a new position in shares of AutoZone during the 2nd quarter valued at approximately $32,000. Finally, MUFG Americas Holdings Corp boosted its holdings in AutoZone by 166.7% during the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock valued at $34,000 after acquiring 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.