Jefferies Financial Group Boosts AutoZone (NYSE:AZO) Price Target to $2,450.00

AutoZone (NYSE:AZOGet Rating) had its price objective increased by Jefferies Financial Group from $2,350.00 to $2,450.00 in a research report released on Tuesday morning, The Fly reports. They currently have a buy rating on the stock. Jefferies Financial Group also issued estimates for AutoZone’s Q1 2023 earnings at $25.22 EPS, Q2 2023 earnings at $20.71 EPS, Q3 2023 earnings at $30.79 EPS, Q4 2023 earnings at $44.36 EPS, FY2023 earnings at $121.08 EPS, Q1 2024 earnings at $30.37 EPS, Q2 2024 earnings at $25.02 EPS, Q3 2024 earnings at $35.15 EPS, Q4 2024 earnings at $50.65 EPS and FY2024 earnings at $141.20 EPS.

Several other brokerages have also recently commented on AZO. Stephens boosted their price target on shares of AutoZone from $2,195.00 to $2,285.00 and gave the stock an overweight rating in a research report on Thursday, May 26th. Citigroup boosted their price target on shares of AutoZone from $2,250.00 to $2,520.00 and gave the stock a buy rating in a research report on Tuesday. DA Davidson lifted their price target on AutoZone from $1,900.00 to $1,920.00 and gave the stock a neutral rating in a research note on Wednesday, May 25th. Wells Fargo & Company lifted their price target on AutoZone from $2,350.00 to $2,450.00 and gave the stock an overweight rating in a research note on Friday, September 9th. Finally, The Goldman Sachs Group raised AutoZone from a neutral rating to a buy rating and lifted their price target for the stock from $1,969.00 to $2,296.00 in a research note on Monday, June 27th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, AutoZone has an average rating of Moderate Buy and a consensus target price of $2,356.53.

AutoZone Stock Down 1.0 %

Shares of NYSE AZO opened at $2,082.64 on Tuesday. AutoZone has a fifty-two week low of $1,634.34 and a fifty-two week high of $2,362.24. The firm’s 50-day simple moving average is $2,185.96 and its 200 day simple moving average is $2,096.21. The stock has a market cap of $40.59 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.53 and a beta of 0.78.

AutoZone (NYSE:AZOGet Rating) last issued its quarterly earnings data on Monday, September 19th. The company reported $40.51 earnings per share for the quarter, beating analysts’ consensus estimates of $38.38 by $2.13. AutoZone had a net margin of 14.95% and a negative return on equity of 79.74%. The business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.16 billion. During the same period in the previous year, the business earned $35.72 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts anticipate that AutoZone will post 122.78 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In related news, VP Domingo Hurtado sold 395 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total value of $875,924.35. Following the completion of the sale, the vice president now owns 362 shares of the company’s stock, valued at approximately $802,745.86. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO William C. Rhodes III sold 2,958 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total value of $6,526,324.14. Following the completion of the sale, the chief executive officer now owns 15,935 shares of the company’s stock, valued at approximately $35,157,868.55. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Domingo Hurtado sold 395 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $2,217.53, for a total value of $875,924.35. Following the completion of the sale, the vice president now directly owns 362 shares of the company’s stock, valued at approximately $802,745.86. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Several large investors have recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in AutoZone in the 1st quarter worth approximately $27,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in AutoZone in the 4th quarter worth approximately $27,000. Tcwp LLC acquired a new stake in AutoZone in the 1st quarter worth approximately $30,000. Kings Point Capital Management acquired a new position in shares of AutoZone during the first quarter worth approximately $31,000. Finally, Johnson Financial Group Inc. acquired a new position in shares of AutoZone during the fourth quarter worth approximately $36,000. Institutional investors own 92.90% of the company’s stock.

AutoZone Company Profile

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AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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