Truist Financial Cuts AutoZone (NYSE:AZO) Price Target to $4,045.00

AutoZone (NYSE:AZO) had its target price decreased by Truist Financial from $4,076.00 to $4,045.00 in a report published on Wednesday morning, Marketbeat Ratings reports. Truist Financial currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company cut their price objective on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. BMO Capital Markets cut their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. Zacks Research upgraded shares of AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $4,400.00 price objective on shares of AutoZone in a research note on Wednesday, December 10th. Finally, Robert W. Baird cut shares of AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 target price for the company. in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4,311.57.

AutoZone Trading Down 2.7%

AZO stock opened at $3,641.03 on Wednesday. AutoZone has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The business’s 50 day moving average is $3,621.83 and its 200-day moving average is $3,821.39. The firm has a market cap of $60.33 billion, a P/E ratio of 25.51, a P/E/G ratio of 1.92 and a beta of 0.41.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.During the same quarter last year, the company earned $28.29 EPS. AutoZone’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts forecast that AutoZone will post 152.94 EPS for the current year.

Insider Activity at AutoZone

In related news, Director Brian Hannasch purchased 147 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were bought at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the purchase, the director directly owned 962 shares in the company, valued at $3,264,152.58. This trade represents a 18.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the sale, the director directly owned 3,564 shares of the company’s stock, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have purchased 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AutoZone

Several large investors have recently modified their holdings of AZO. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. acquired a new stake in AutoZone during the 3rd quarter worth approximately $26,000. Torren Management LLC bought a new position in AutoZone in the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors LLC boosted its holdings in shares of AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after buying an additional 4 shares during the period. Finally, Aspect Partners LLC raised its holdings in shares of AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after acquiring an additional 7 shares during the period. 92.74% of the stock is currently owned by institutional investors.

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.