Brokerages Set AutoZone, Inc. (NYSE:AZO) PT at $4,312.13

AutoZone, Inc. (NYSE:AZO) has been assigned a consensus rating of “Moderate Buy” from the twenty-eight research firms that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $4,312.1250.

Several research analysts have recently issued reports on the company. Evercore upped their price objective on AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. The Goldman Sachs Group boosted their target price on AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. BMO Capital Markets reduced their target price on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Truist Financial reduced their price objective on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Finally, TD Cowen reduced their price objective on AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research note on Monday, March 16th.

AutoZone Price Performance

AZO opened at $3,376.66 on Friday. AutoZone has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The stock has a market capitalization of $55.65 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 1.73 and a beta of 0.43. The business has a fifty day moving average price of $3,500.32 and a 200 day moving average price of $3,599.71.

AutoZone (NYSE:AZO) last released 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. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the previous year, the firm posted $28.29 EPS. AutoZone’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, research analysts anticipate that AutoZone will post 148.93 earnings per share for the current year.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of AutoZone

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in AutoZone by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock valued at $7,711,912,000 after acquiring an additional 26,544 shares during the last quarter. Morgan Stanley raised its stake in shares of AutoZone by 17.8% during the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after buying an additional 74,555 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of AutoZone by 1.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock worth $1,312,654,000 after buying an additional 7,390 shares in the last quarter. Norges Bank purchased a new position in shares of AutoZone during the 4th quarter worth approximately $939,205,000. Finally, PineStone Asset Management Inc. raised its stake in shares of AutoZone by 1.5% during the 4th quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock worth $912,900,000 after buying an additional 3,868 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other 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.