AutoZone (NYSE:AZO) PT Lowered to $3,200.00

AutoZone (NYSE:AZOGet Free Report) had its price target reduced by equities researchers at Wedbush from $3,400.00 to $3,200.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 15.21% from the company’s current price.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price target on shares of AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Barclays raised their target price 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. Mizuho dropped their price target on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research report on Wednesday. UBS Group decreased their price objective on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Morgan Stanley dropped their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,066.53.

Read Our Latest Report on AutoZone

AutoZone Trading Up 0.2 %

Shares of AZO stock opened at $2,777.54 on Wednesday. AutoZone has a 12-month low of $2,277.88 and a 12-month high of $3,256.37. The business’s 50 day moving average is $3,015.95 and its two-hundred day moving average is $2,826.45. The company has a market capitalization 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:AZOGet Free Report) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $34.12 EPS. On average, research analysts predict that AutoZone will post 152.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Richard Craig Smith sold 3,000 shares of the business’s 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 value of $8,993,280.00. Following the sale, 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 is available through this hyperlink. In other AutoZone news, CEO Philip B. Daniele sold 4,190 shares of AutoZone stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the completion of the transaction, the chief executive officer now directly owns 900 shares of the company’s stock, valued at approximately $2,845,512. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the sale, the vice president now owns 2,921 shares in the company, valued at $8,756,456.96. The disclosure for this sale can be found here. Insiders sold a total of 15,990 shares of company stock valued at $50,335,193 over the last 90 days. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On AutoZone

Several large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of AutoZone by 232,194.6% in the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock worth $1,891,963,000 after acquiring an additional 731,413 shares in the last quarter. Royal Bank of Canada boosted its holdings in AutoZone by 1.3% in the third quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock valued at $1,121,572,000 after purchasing an additional 5,650 shares during the period. Wellington Management Group LLP grew its stake in AutoZone by 111.4% during the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after purchasing an additional 176,623 shares in the last quarter. Norges Bank purchased a new stake in AutoZone during the 4th quarter worth about $678,350,000. Finally, Morgan Stanley raised its position in AutoZone by 4.5% in the 3rd quarter. Morgan Stanley now owns 259,964 shares of the company’s stock valued at $660,309,000 after purchasing an additional 11,104 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

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.

See Also

Analyst Recommendations for AutoZone (NYSE:AZO)

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