AutoZone (NYSE:AZO) PT Lowered to $3,250.00 at Evercore ISI

AutoZone (NYSE:AZOGet Free Report) had its price objective decreased by stock analysts at Evercore ISI from $3,300.00 to $3,250.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 17.01% from the company’s previous close.

Other analysts also recently issued reports about the company. Morgan Stanley reduced their price objective on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $3,400.00 price objective on shares of AutoZone in a research report on Wednesday, May 15th. Barclays upped 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. JPMorgan Chase & Co. lifted their target price 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. Finally, UBS Group boosted their target price 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, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3,066.53.

View Our Latest Report on AZO

AutoZone Stock Performance

AutoZone stock opened at $2,777.54 on Wednesday. The company has a market capitalization of $48.11 billion, a P/E ratio of 19.56, a PEG ratio of 1.40 and a beta of 0.72. AutoZone has a fifty-two week low of $2,277.88 and a fifty-two week high of $3,256.37. The stock has a 50-day simple moving average of $3,015.95 and a 200-day simple moving average of $2,826.45.

AutoZone (NYSE:AZOGet Free Report) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.29 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $34.12 EPS. As a group, analysts forecast that AutoZone will post 152.27 earnings per share for the current year.

Insider Activity at AutoZone

In other news, VP Eric S. Gould sold 2,100 shares of the firm’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 transaction of $6,720,000.00. Following the completion of the transaction, the vice president now directly owns 910 shares of the company’s stock, valued at approximately $2,912,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Eric S. Gould sold 2,100 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 910 shares of the company’s stock, valued at approximately $2,912,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 6,700 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 15,357 shares in the company, valued at $48,992,208.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,990 shares of company stock valued at $50,335,193. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Large investors have recently added to or reduced their stakes in the business. Rock Creek Group LP acquired a new position in shares of AutoZone during the 3rd quarter valued at about $25,000. Rise Advisors LLC acquired a new position in AutoZone during the first quarter worth approximately $32,000. Riverview Trust Co purchased a new position in shares of AutoZone in the 1st quarter worth $41,000. ORG Partners LLC acquired a new position in AutoZone in the third quarter valued at $43,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in AutoZone during the third quarter valued at about $51,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

About AutoZone

(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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