AutoZone (NYSE:AZO) Price Target Cut to $3,250.00 by Analysts at Evercore ISI

AutoZone (NYSE:AZO) had its price target lowered by Evercore ISI from $3,300.00 to $3,250.00 in a research note published on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other brokerages have also commented on AZO. UBS Group increased their price target on shares of AutoZone from $3,100.00 to $3,425.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Mizuho lowered their price target on AutoZone from $3,450.00 to $3,280.00 and set a buy rating on the stock in a research report on Wednesday. StockNews.com lowered AutoZone from a buy rating to a hold rating in a research note on Friday, April 12th. Wedbush reiterated an outperform rating and set a $3,400.00 price objective on shares of AutoZone in a research report on Wednesday, May 15th. Finally, Wolfe Research dropped their target price on AutoZone from $3,150.00 to $3,000.00 and set an outperform rating for the company in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $3,066.53.

AutoZone Stock Up 0.6 %

AutoZone stock opened at $2,792.90 on Wednesday. The stock has a market cap of $48.37 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.39 and a beta of 0.72. The business has a 50-day simple moving average of $3,009.41 and a 200 day simple moving average of $2,829.02. AutoZone has a 52 week low of $2,277.88 and a 52 week high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $34.12 EPS. On average, research analysts anticipate that AutoZone will post 151.5 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the sale, the vice president now directly owns 2,921 shares in the company, valued at $8,756,456.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the transaction, the vice president now directly owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman William C. Rhodes III sold 6,700 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the sale, the chairman now directly owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,990 shares of company stock worth $50,335,193. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AutoZone

Hedge funds and other institutional investors have recently modified their holdings of the stock. Plancorp LLC lifted its position in AutoZone by 3.0% during the third quarter. Plancorp LLC now owns 136 shares of the company’s stock valued at $345,000 after buying an additional 4 shares during the period. Alcosta Capital Management Inc. increased its stake in shares of AutoZone by 0.3% in the 3rd quarter. Alcosta Capital Management Inc. now owns 1,255 shares of the company’s stock worth $3,188,000 after acquiring an additional 4 shares in the last quarter. Hohimer Wealth Management LLC lifted its position in AutoZone by 1.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 361 shares of the company’s stock valued at $917,000 after acquiring an additional 4 shares during the period. Summit Trail Advisors LLC lifted its position in AutoZone by 3.8% during the 4th quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock valued at $283,000 after acquiring an additional 4 shares during the period. Finally, Guardian Capital LP boosted its stake in AutoZone by 1.3% during the fourth quarter. Guardian Capital LP now owns 301 shares of the company’s stock worth $778,000 after acquiring an additional 4 shares in the last quarter. Hedge funds and other 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.