AutoZone (NYSE:AZO) PT Lowered to $3,340.00 at UBS Group

AutoZone (NYSE:AZO) had its price objective lowered by UBS Group from $3,465.00 to $3,340.00 in a research report report published on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Mizuho dropped their target price on shares of AutoZone from $3,450.00 to $3,280.00 and set a buy rating for the company in a research note on Wednesday. Wedbush reiterated an outperform rating and issued a $3,400.00 price objective on shares of AutoZone in a research report on Wednesday, May 15th. StockNews.com cut AutoZone from a buy rating to a hold rating in a research note on Friday, April 12th. DA Davidson upped their price target on AutoZone from $2,770.00 to $3,025.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. Finally, Evercore ISI lowered their price objective on AutoZone from $3,300.00 to $3,250.00 and set an outperform rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $3,066.53.

AutoZone Price Performance

Shares of AZO opened at $2,792.90 on Wednesday. The business’s 50 day simple moving average is $3,009.41 and its 200-day simple moving average is $2,829.02. AutoZone has a one year low of $2,277.88 and a one year high of $3,256.37. The company has a market capitalization of $48.37 billion, a P/E ratio of 19.67, a PEG ratio of 1.39 and a beta of 0.72.

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

Insider Buying and Selling at AutoZone

In other AutoZone 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 value of $6,720,000.00. Following the completion of the sale, the vice president now directly owns 910 shares in the company, valued at $2,912,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Jenna M. Bedsole bought 36 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the purchase, the vice president now owns 36 shares of the company’s stock, valued at approximately $99,255.60. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Eric S. Gould sold 2,100 shares of the stock in a transaction on 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,990 shares of company stock valued at $50,335,193. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Several hedge funds have recently modified their holdings of the stock. Rock Creek Group LP bought a new stake in AutoZone in the third quarter valued at approximately $25,000. Rise Advisors LLC bought a new stake in shares of AutoZone during the 1st quarter valued at $32,000. Riverview Trust Co bought a new stake in AutoZone during the first quarter worth about $41,000. ORG Partners LLC acquired a new stake in shares of AutoZone during the 3rd quarter worth approximately $43,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of AutoZone in the 3rd quarter valued at $51,000. 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.