AutoZone (NYSE:AZO) Price Target Cut to $4,268.00 by Analysts at BNP Paribas Exane

AutoZone (NYSE:AZO) had its price target cut by equities research analysts at BNP Paribas Exane from $4,811.00 to $4,268.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the stock. BNP Paribas Exane’s price target would suggest a potential upside of 25.67% from the company’s previous close.

AZO has been the topic of a number of other reports. BMO Capital Markets reduced their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research report on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of AutoZone in a report on Monday. Evercore ISI reaffirmed an “outperform” rating and set a $4,100.00 price target on shares of AutoZone in a report on Wednesday. Cowen reiterated a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Finally, Baird R W upgraded AutoZone to a “strong-buy” rating in a report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,429.08.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,396.32 on Wednesday. The business’s fifty day moving average price is $3,886.57 and its two-hundred day moving average price is $3,902.52. AutoZone has a fifty-two week low of $3,162.00 and a fifty-two week high of $4,388.11. The stock has a market capitalization of $56.49 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.80 and a beta of 0.40.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the business posted $32.52 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Research analysts expect that AutoZone will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has approved a stock buyback plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the sale, the chief executive officer directly owned 55 shares of the company’s stock, valued at $221,148.40. This represents a 97.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,693 shares of company stock valued at $23,259,891 over the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On AutoZone

Several large investors have recently bought and sold shares of AZO. Flputnam Investment Management Co. boosted its position in shares of AutoZone by 3.2% during the first quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock worth $366,000 after purchasing an additional 3 shares in the last quarter. McLean Asset Management Corp raised its stake in AutoZone by 3.6% during the 2nd quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock worth $320,000 after buying an additional 3 shares during the period. NBC Securities Inc. lifted its holdings in AutoZone by 0.9% during the second quarter. NBC Securities Inc. now owns 347 shares of the company’s stock worth $1,288,000 after acquiring an additional 3 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in AutoZone by 4.3% in the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock valued at $267,000 after acquiring an additional 3 shares during the period. Finally, Ritholtz Wealth Management increased its holdings in shares of AutoZone by 0.3% in the second quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock worth $4,377,000 after acquiring an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

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.