AutoZone (NYSE:AZO) Price Target Raised to $3,500.00

AutoZone (NYSE:AZO) had its target price boosted by UBS Group from $3,340.00 to $3,500.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Mizuho lifted their price target on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an outperform rating in a report on Wednesday. Wedbush reiterated an outperform rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Truist Financial decreased their price target on AutoZone from $3,394.00 to $3,341.00 and set a buy rating on the stock in a research report on Wednesday. Evercore ISI cut their price objective on AutoZone from $3,900.00 to $3,350.00 and set an outperform rating for the company in a research report on Friday, September 20th. Finally, StockNews.com cut AutoZone from a buy rating to a hold rating in a report on Saturday, September 21st. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $3,169.38.

AutoZone Trading Up 0.2 %

AZO stock opened at $3,196.61 on Wednesday. AutoZone has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The business’s 50 day moving average is $3,116.79 and its 200-day moving average is $3,011.32. The firm has a market cap of $54.61 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.43 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $46.46 earnings per share. Sell-side analysts forecast that AutoZone will post 151.08 EPS for the current year.

Insiders Place Their Bets

In other news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Several hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC raised its position in shares of AutoZone by 5.8% in the 2nd quarter. Anchor Investment Management LLC now owns 1,042 shares of the company’s stock valued at $3,089,000 after acquiring an additional 57 shares during the period. Sanctuary Advisors LLC acquired a new stake in AutoZone in the second quarter worth $2,249,000. 3Chopt Investment Partners LLC bought a new position in shares of AutoZone during the second quarter worth $362,000. Brandes Investment Partners LP grew its holdings in shares of AutoZone by 18.3% in the 2nd quarter. Brandes Investment Partners LP now owns 17,174 shares of the company’s stock valued at $50,897,000 after buying an additional 2,660 shares during the period. Finally, Regal Investment Advisors LLC increased its position in shares of AutoZone by 39.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 248 shares of the company’s stock valued at $735,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

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.