Brokerages Set AutoZone, Inc. (NYSE:AZO) Target Price at $4,285.00

Shares of AutoZone, Inc. (NYSE:AZO) have received an average recommendation of “Moderate Buy” from the twenty-nine analysts that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $4,296.25.

AZO has been the subject of a number of recent analyst reports. Evercore ISI restated an “outperform” rating and issued a $4,100.00 price objective on shares of AutoZone in a research report on Wednesday, December 10th. UBS Group reissued a “buy” rating and issued a $4,555.00 price target on shares of AutoZone in a report on Wednesday. Wells Fargo & Company dropped their price objective on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Guggenheim reduced their target price on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, BNP Paribas Exane decreased their target price on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th.

Insider Activity at AutoZone

In related news, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 3,564 shares of the company’s stock, valued at $11,910,852.36. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael A. George acquired 145 shares of AutoZone stock in a transaction that occurred on Monday, December 22nd. The shares were purchased at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the completion of the acquisition, the director owned 566 shares of the company’s stock, valued at $1,923,341.58. The trade was a 34.44% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 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 Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in AutoZone in the 2nd quarter valued at about $356,000. GC Wealth Management RIA LLC acquired a new stake in shares of AutoZone during the 2nd quarter worth about $382,000. LBP AM SA boosted its stake in shares of AutoZone by 132.0% during the 2nd quarter. LBP AM SA now owns 1,051 shares of the company’s stock worth $3,902,000 after purchasing an additional 598 shares during the last quarter. Finally, Childress Capital Advisors LLC grew its holdings in shares of AutoZone by 5.2% during the second quarter. Childress Capital Advisors LLC now owns 101 shares of the company’s stock worth $375,000 after buying an additional 5 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,602.35 on Friday. The stock has a fifty day moving average price of $3,556.37 and a 200 day moving average price of $3,848.33. AutoZone has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The company has a market cap of $59.68 billion, a PE ratio of 25.12, a P/E/G ratio of 1.77 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the company posted $32.52 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts anticipate that AutoZone will post 152.94 earnings per share for the current fiscal year.

About AutoZone

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.