AutoZone (NYSE:AZO) Given New $3,000.00 Price Target at Wolfe Research

AutoZone (NYSE:AZOGet Free Report) had its price target dropped by equities research analysts at Wolfe Research from $3,150.00 to $3,000.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wolfe Research’s price target indicates a potential upside of 8.01% from the company’s current price.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. DA Davidson raised their price objective on AutoZone from $2,770.00 to $3,025.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Wedbush reiterated an “outperform” rating and set a $3,400.00 target price on shares of AutoZone in a report on Wednesday, May 15th. Finally, Barclays raised their price target on AutoZone from $2,779.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,066.53.

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AutoZone Trading Up 0.2 %

AZO stock opened at $2,777.54 on Wednesday. The stock has a 50-day moving average price of $3,015.95 and a two-hundred day moving average price of $2,826.45. AutoZone has a 1 year low of $2,277.88 and a 1 year high of $3,256.37. The stock has a market cap of $48.11 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.40 and a beta of 0.72.

AutoZone (NYSE:AZOGet Free Report) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping the consensus estimate of $35.67 by $1.02. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the firm earned $34.12 earnings per share. AutoZone’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts forecast that AutoZone will post 152.27 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were 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 approximately $48,992,208.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 value of $21,374,474.00. Following the transaction, the chairman now owns 15,357 shares in the company, valued at $48,992,208.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the sale, the chief executive officer now directly owns 900 shares of the company’s stock, valued at approximately $2,845,512. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,990 shares of company stock valued at $50,335,193. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AutoZone

Institutional investors have recently modified their holdings of the business. Rock Creek Group LP acquired a new position in AutoZone in the 3rd quarter worth about $25,000. Rise Advisors LLC acquired a new position in shares of AutoZone in the first quarter valued at approximately $32,000. Riverview Trust Co bought a new position in AutoZone in the 1st quarter valued at approximately $41,000. ORG Partners LLC acquired a new stake in AutoZone during the 3rd quarter worth approximately $43,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in AutoZone during the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

(Get Free Report)

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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