Barclays Trims AutoZone (NYSE:AZO) Target Price to $3,024.00

AutoZone (NYSE:AZO) had its target price reduced by Barclays from $3,100.00 to $3,024.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 9.07% from the stock’s current price.

AZO has been the topic of a number of other research reports. Wedbush dropped their price target on AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a research report on Wednesday. Mizuho reduced their price target on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research report on Wednesday. Evercore ISI cut their target price on AutoZone from $3,300.00 to $3,250.00 and set an “outperform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Finally, Truist Financial decreased their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3,053.94.

AutoZone Price Performance

Shares of AZO opened at $2,772.64 on Thursday. The stock has a market capitalization of $48.02 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.40 and a beta of 0.72. AutoZone has a 1 year low of $2,277.88 and a 1 year high of $3,256.37. The business’s 50 day simple moving average is $3,022.78 and its 200-day simple moving average is $2,826.79.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping the consensus estimate of $35.67 by $1.02. The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.29 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $34.12 earnings per share. On average, sell-side analysts expect that AutoZone will post 152.27 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Philip B. Daniele sold 4,190 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the completion of the sale, the chief executive officer now directly owns 900 shares in the company, valued at $2,845,512. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Eric S. Gould sold 2,100 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the transaction, the vice president now owns 910 shares of the company’s stock, valued at approximately $2,912,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Philip B. Daniele sold 4,190 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the completion of the sale, the chief executive officer now directly owns 900 shares in the company, valued at approximately $2,845,512. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,990 shares of company stock worth $50,335,193. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AutoZone

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Plancorp LLC lifted its holdings in shares of AutoZone by 3.0% in the 3rd quarter. Plancorp LLC now owns 136 shares of the company’s stock valued at $345,000 after purchasing an additional 4 shares during the last quarter. Alcosta Capital Management Inc. grew its holdings in shares of AutoZone by 0.3% during the third quarter. Alcosta Capital Management Inc. now owns 1,255 shares of the company’s stock worth $3,188,000 after buying an additional 4 shares during the last quarter. Hohimer Wealth Management LLC increased its position in AutoZone by 1.1% in 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 raised its stake 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 last quarter. Finally, Guardian Capital LP lifted its position in AutoZone by 1.3% during the 4th quarter. Guardian Capital LP now owns 301 shares of the company’s stock worth $778,000 after acquiring an additional 4 shares during the period. 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.