Evercore ISI Boosts AutoZone (NYSE:AZO) Price Target to $3,350.00

AutoZone (NYSE:AZO) had its price target increased by Evercore ISI from $3,300.00 to $3,350.00 in a report issued on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

AZO has been the subject of a number of other research reports. Citigroup dropped their target price on AutoZone from $3,787.00 to $3,500.00 and set a buy rating for the company in a research report on Wednesday, September 25th. BNP Paribas raised AutoZone to a strong-buy rating in a research note on Wednesday, September 25th. Truist Financial decreased their price objective on shares of AutoZone from $3,394.00 to $3,341.00 and set a buy rating for the company in a report on Wednesday, September 25th. Guggenheim lifted their price target on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a buy rating in a research report on Wednesday, September 25th. Finally, StockNews.com cut shares of AutoZone from a buy rating to a hold rating in a report on Saturday, September 21st. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $3,169.38.

AutoZone Stock Down 1.1 %

Shares of AZO opened at $3,033.58 on Thursday. The business’s 50-day moving average price is $3,132.67 and its 200-day moving average price is $3,011.34. The stock has a market cap of $51.82 billion, a PE ratio of 20.98, a P/E/G ratio of 1.43 and a beta of 0.71. AutoZone has a twelve month low of $2,375.35 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. AutoZone’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $46.46 earnings per share. Analysts expect that AutoZone will post 151.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On AutoZone

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZO. Quent Capital LLC raised its holdings in shares of AutoZone by 4.8% during the 1st quarter. Quent Capital LLC now owns 88 shares of the company’s stock worth $277,000 after acquiring an additional 4 shares in the last quarter. Mather Group LLC. raised its stake in AutoZone by 1.8% during the second quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after purchasing an additional 4 shares in the last quarter. Conning Inc. lifted its position in AutoZone by 4.3% during the second quarter. Conning Inc. now owns 98 shares of the company’s stock valued at $290,000 after purchasing an additional 4 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of AutoZone by 14.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after buying an additional 4 shares in the last quarter. Finally, Brighton Jones LLC raised its position in shares of AutoZone by 4.1% during the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after buying an additional 4 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

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.