Brokerages Set AutoZone, Inc. (NYSE:AZO) PT at $3,104.13

Shares of AutoZone, Inc. (NYSE:AZOGet Free Report) have been given an average rating of “Moderate Buy” by the eighteen brokerages that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $3,104.13.

Several research firms have weighed in on AZO. Morgan Stanley lowered their price objective on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. Wedbush cut their price objective on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. Evercore ISI lowered their target price on shares of AutoZone from $3,300.00 to $3,250.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. Barclays cut their price target on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, DA Davidson raised their price objective on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th.

Read Our Latest Stock Analysis on AutoZone

Insiders Place Their Bets

In other news, VP Jenna M. Bedsole bought 36 shares of the stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the acquisition, the vice president now directly owns 36 shares in the company, valued at $99,255.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the transaction, the chairman now owns 15,357 shares in the company, valued at $48,992,208.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jenna M. Bedsole acquired 36 shares of AutoZone stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost 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 $99,255.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 12,990 shares of company stock valued at $41,341,913. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Alcosta Capital Management Inc. lifted its stake in shares of AutoZone by 0.3% in the third quarter. Alcosta Capital Management Inc. now owns 1,255 shares of the company’s stock worth $3,188,000 after acquiring an additional 4 shares during the period. Hohimer Wealth Management LLC increased its position in shares of AutoZone by 1.1% during the third quarter. Hohimer Wealth Management LLC now owns 361 shares of the company’s stock worth $917,000 after buying an additional 4 shares during the period. Summit Trail Advisors LLC raised its position in shares of AutoZone by 3.8% in the 4th quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock worth $283,000 after acquiring an additional 4 shares in the last quarter. Guardian Capital LP increased its holdings in AutoZone by 1.3% in the fourth quarter. Guardian Capital LP now owns 301 shares of the company’s stock worth $778,000 after purchasing an additional 4 shares in the last quarter. Finally, Quent Capital LLC lifted its position in shares of AutoZone by 4.8% during the 1st quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after acquiring an additional 4 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Performance

Shares of AZO opened at $2,813.40 on Friday. The firm’s 50-day simple moving average is $2,902.88 and its 200 day simple moving average is $2,838.87. The firm has a market cap of $48.06 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 1.39 and a beta of 0.71. AutoZone has a 52 week low of $2,375.35 and a 52 week high of $3,256.37.

AutoZone (NYSE:AZOGet Free Report) last posted its earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, beating the consensus estimate of $35.67 by $1.02. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $34.12 earnings per share. As a group, equities analysts forecast that AutoZone will post 151.57 earnings per share for the current year.

AutoZone Company Profile

(Get Free Report

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.

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