AutoZone (NYSE:AZO) PT Raised to $1,850.00

AutoZone (NYSE:AZO) had its target price hoisted by research analysts at Stephens from $1,700.00 to $1,850.00 in a report issued on Wednesday, The Fly reports. The firm currently has an “overweight” rating on the stock. Stephens’ price target indicates a potential upside of 9.61% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. DA Davidson downgraded AutoZone from a “buy” rating to a “neutral” rating and set a $1,600.00 price target on the stock. in a research report on Monday, September 13th. Argus lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Monday, June 7th. They noted that the move was a valuation call. Wells Fargo & Company increased their target price on shares of AutoZone from $1,700.00 to $1,750.00 and gave the stock an “overweight” rating in a research note on Monday, September 13th. Citigroup raised their price target on shares of AutoZone from $1,870.00 to $1,950.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Raymond James lowered shares of AutoZone from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $1,700.00 to $1,750.00 in a research note on Tuesday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $1,651.89.

NYSE AZO opened at $1,687.79 on Wednesday. The stock’s fifty day moving average price is $1,602.03 and its 200 day moving average price is $1,494.65. AutoZone has a 1 year low of $1,085.85 and a 1 year high of $1,704.02. The company has a market cap of $36.36 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 1.46 and a beta of 0.94.

AutoZone (NYSE:AZO) last released its earnings results on Monday, September 20th. The company reported $35.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $30.20 by $5.52. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.57 billion. AutoZone had a negative return on equity of 163.72% and a net margin of 14.90%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $30.93 EPS. As a group, sell-side analysts predict that AutoZone will post 89.51 earnings per share for the current year.

In other AutoZone news, CEO William C. Rhodes III sold 4,492 shares of the firm’s stock in a transaction dated Tuesday, June 29th. The shares were sold at an average price of $1,501.14, for a total transaction of $6,743,120.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Ronald B. Griffin sold 7,017 shares of the firm’s stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $1,608.29, for a total transaction of $11,285,370.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,944 shares of company stock worth $52,299,958. 2.80% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of AutoZone by 30.9% during the 2nd quarter. Bank of America Corp DE now owns 213,258 shares of the company’s stock worth $318,229,000 after acquiring an additional 50,322 shares during the period. Parametric Portfolio Associates LLC raised its holdings in AutoZone by 1.5% in the second quarter. Parametric Portfolio Associates LLC now owns 112,323 shares of the company’s stock valued at $167,611,000 after buying an additional 1,712 shares during the period. Comerica Bank raised its holdings in AutoZone by 0.9% in the second quarter. Comerica Bank now owns 6,413 shares of the company’s stock valued at $10,470,000 after buying an additional 55 shares during the period. Morgan Stanley raised its holdings in AutoZone by 26.4% in the second quarter. Morgan Stanley now owns 291,351 shares of the company’s stock valued at $434,761,000 after buying an additional 60,824 shares during the period. Finally, Bradley Foster & Sargent Inc. CT raised its holdings in AutoZone by 16.7% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 1,102 shares of the company’s stock valued at $1,644,000 after buying an additional 158 shares during the period. Institutional investors and hedge funds own 87.65% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.

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