Evercore Boosts AutoZone (NYSE:AZO) Price Target to $4,125.00

AutoZone (NYSE:AZO) had its target price upped by equities research analysts at Evercore from $4,100.00 to $4,125.00 in a report released on Friday,MarketScreener reports. The brokerage presently has an “outperform” rating on the stock. Evercore’s price target suggests a potential upside of 9.95% from the company’s previous close.

A number of other equities analysts have also recently commented on AZO. Jefferies Financial Group reaffirmed a “buy” rating and issued a $4,400.00 target price on shares of AutoZone in a report on Wednesday, December 10th. Truist Financial reduced their price target on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. BMO Capital Markets lowered their price objective on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Erste Group Bank lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Friday, October 31st. Finally, Oppenheimer lowered their price target on shares of AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating on the stock in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4,280.63.

AutoZone Stock Up 2.5%

NYSE AZO opened at $3,751.68 on Friday. The company has a 50-day moving average price of $3,594.55 and a 200-day moving average price of $3,830.52. AutoZone has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The firm has a market capitalization of $62.17 billion, a P/E ratio of 26.16, a PEG ratio of 1.78 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the firm posted $32.52 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that AutoZone will post 152.94 EPS for the current year.

Insider Activity

In related news, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the transaction, the director directly owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael A. George purchased 145 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was bought at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the purchase, the director owned 566 shares in the company, valued at approximately $1,923,341.58. This represents a 34.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Several institutional investors have recently added to or reduced their stakes in AZO. Anchor Investment Management LLC boosted its position in shares of AutoZone by 0.7% during the 4th quarter. Anchor Investment Management LLC now owns 1,139 shares of the company’s stock valued at $3,863,000 after acquiring an additional 8 shares during the last quarter. BDFS Capital LLC purchased a new stake in AutoZone during the fourth quarter valued at $526,000. MidFirst Bank bought a new position in AutoZone during the fourth quarter valued at $139,000. Titan Investment Management LLC purchased a new position in shares of AutoZone in the 4th quarter worth $1,621,000. Finally, Clear Retirement Advice LLC bought a new stake in shares of AutoZone in the 4th quarter worth about $331,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

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.