AutoZone (NYSE:AZO) Price Target Raised to $4,345.00

AutoZone (NYSE:AZO) had its price target raised by The Goldman Sachs Group from $4,274.00 to $4,345.00 in a research report report published on Wednesday,MarketScreener reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Barclays upped their target price on AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial decreased their price objective on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a research note on Wednesday. Wolfe Research lowered AutoZone from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 16th. DA Davidson decreased their price target on shares of AutoZone from $4,500.00 to $4,100.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Guggenheim lowered their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4,311.57.

AutoZone Stock Performance

NYSE AZO opened at $3,641.03 on Wednesday. AutoZone has a one year low of $3,210.72 and a one year high of $4,388.11. The company has a market capitalization of $60.33 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 1.92 and a beta of 0.41. The company’s 50-day simple moving average is $3,621.83 and its two-hundred day simple moving average is $3,821.39.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping the consensus estimate of $27.59 by $0.04. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $28.29 EPS. Equities analysts expect that AutoZone will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the sale, the director owned 3,564 shares of the company’s stock, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the sale, the director owned 4,887 shares in the company, valued at $16,102,665. The trade was a 4.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders bought 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AZO. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone in the third quarter worth $25,000. Raleigh Capital Management Inc. acquired a new position in shares of AutoZone in the 3rd quarter valued at $26,000. Torren Management LLC purchased a new position in AutoZone in the 4th quarter worth $27,000. Transamerica Financial Advisors LLC raised its stake in AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares during the last quarter. Finally, Aspect Partners LLC lifted its position in AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after acquiring an additional 7 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.