Weekly Research Analysts’ Ratings Changes for AutoZone (AZO)

Several brokerages have updated their recommendations and price targets on shares of AutoZone (NYSE: AZO) in the last few weeks:

• 12/16/2024 – AutoZone had its price target raised by analysts at TD Cowen from $3,450.00 to $3,800.00. They now have a “buy” rating on the stock.
• 12/13/2024 – AutoZone is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $3,700.00 price target on the stock.
• 12/11/2024 – AutoZone had its price target raised by analysts at Wells Fargo & Company from $3,450.00 to $3,750.00. They now have an “overweight” rating on the stock.
• 12/11/2024 – AutoZone had its price target raised by analysts at Evercore ISI from $3,400.00 to $3,450.00. They now have an “outperform” rating on the stock.
• 12/11/2024 – AutoZone had its price target raised by analysts at Mizuho from $3,350.00 to $3,600.00. They now have an “outperform” rating on the stock.
• 12/11/2024 – AutoZone had its price target raised by analysts at Citigroup Inc. from $3,500.00 to $3,900.00. They now have a “buy” rating on the stock.
• 12/11/2024 – AutoZone had its price target raised by analysts at Guggenheim from $3,350.00 to $3,750.00. They now have a “buy” rating on the stock.
• 12/11/2024 – AutoZone had its price target raised by analysts at Truist Financial Co. from $3,501.00 to $3,753.00. They now have a “buy” rating on the stock.
• 12/4/2024 – AutoZone had its “buy” rating reaffirmed by analysts at Guggenheim.
• 12/3/2024 – AutoZone had its price target raised by analysts at Wells Fargo & Company from $3,400.00 to $3,450.00. They now have an “overweight” rating on the stock.

AutoZone Stock Up 1.3 %

AutoZone stock traded up $41.25 during mid-day trading on Wednesday, reaching $3,283.48. 57,453 shares of the company’s stock were exchanged, compared to its average volume of 139,755. The business’s fifty day simple moving average is $3,177.30 and its 200 day simple moving average is $3,093.61. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,416.71. The firm has a market capitalization of $55.50 billion, a PE ratio of 21.94, a P/E/G ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the firm posted $32.55 earnings per share. AutoZone’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that AutoZone, Inc. will post 154.29 earnings per share for the current year.

Insider Activity

In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. The trade was a 48.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of AutoZone in the third quarter valued at approximately $36,000. Meeder Asset Management Inc. lifted its position in shares of AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new position in shares of AutoZone in the third quarter valued at $47,000. Darwin Wealth Management LLC bought a new stake in shares of AutoZone during the 3rd quarter valued at $47,000. Finally, McIlrath & Eck LLC boosted its stake in AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the period. 92.74% of the stock is currently owned by institutional investors.

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.