AutoZone (NYSE:AZO) Given New $3,817.00 Price Target at Truist Financial

AutoZone (NYSE:AZO) had its price objective reduced by Truist Financial from $4,045.00 to $3,817.00 in a research note issued on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 24.99% from the stock’s previous close.

Several other research firms have also issued reports on AZO. JPMorgan Chase & Co. lowered their price target on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup reduced their target price on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a research note on Wednesday. Roth Mkm decreased their target price on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research report on Wednesday. BMO Capital Markets decreased their price objective on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Barclays increased their price objective on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average target price of $4,099.83.

AutoZone Price Performance

AZO stock traded down $46.36 during trading on Tuesday, reaching $3,053.75. 20,426 shares of the company were exchanged, compared to its average volume of 191,540. AutoZone has a twelve month low of $3,001.00 and a twelve month high of $4,388.11. The company has a market capitalization of $50.32 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.74 and a beta of 0.43. The company has a 50-day moving average of $3,448.20 and a two-hundred day moving average of $3,579.65.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period last year, the company earned $35.36 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts forecast that AutoZone will post 149.16 EPS for the current year.

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raleigh Capital Management Inc. bought a new stake in AutoZone in the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone during the third quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in AutoZone in the fourth quarter worth $27,000. Transamerica Financial Advisors LLC lifted its stake in AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares during the period. Finally, MCF Advisors LLC boosted its holdings in AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported fiscal Q3 EPS of $38.07, ahead of consensus estimates, and revenue rose 8.4% year over year to $4.84 billion, with same-store sales up 3.9% companywide and 4.1% domestically. Article Title
• Positive Sentiment: Domestic growth and commercial expansion remained strong, and management said the repair business stayed resilient even as consumers cut back elsewhere. Article Title
• Neutral Sentiment: AutoZone announced a partnership with Google Cloud, which could support longer-term operational and digital initiatives, but it was not the main driver of the stock move. Article Title
• Neutral Sentiment: Several analysts cut price targets after the report, including BMO Capital Markets to $4,000 and Robert W. Baird to $3,600, signaling some caution but still implying upside from recent levels. Article Title
• Negative Sentiment: The stock fell sharply after the company missed revenue expectations, and multiple reports pointed to margin pressure, including a non-cash LIFO impact, as well as softer international results. Article Title

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.