AutoZone (NYSE:AZO) PT Raised to $2,886.00

AutoZone (NYSE:AZO – Get Rating) had its target price boosted by research analysts at Truist Financial from $2,878.00 to $2,886.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Truist Financial’s target price would indicate a potential upside of 17.33% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group reduced their price objective on AutoZone from $2,899.00 to $2,840.00 in a report on Tuesday. 51job reissued a “maintains” rating on shares of AutoZone in a report on Thursday, May 11th. Wells Fargo & Company boosted their price target on AutoZone from $2,850.00 to $3,000.00 in a report on Monday, May 15th. Bank of America boosted their price target on AutoZone from $1,890.00 to $2,120.00 in a report on Wednesday. Finally, Roth Capital reissued a “buy” rating on shares of AutoZone in a report on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,683.56.

AutoZone Price Performance

AutoZone stock opened at $2,459.75 on Wednesday. AutoZone has a 1-year low of $1,959.58 and a 1-year high of $2,750.00. The company has a market cap of $45.25 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.68 and a beta of 0.68. The stock’s 50 day moving average price is $2,575.67 and its 200 day moving average price is $2,499.14.

AutoZone (NYSE:AZO – Get Rating) last issued its quarterly earnings data on Tuesday, May 23rd. The company reported $34.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $30.84 by $3.28. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.12 billion. AutoZone had a negative return on equity of 64.72% and a net margin of 14.32%. AutoZone’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $29.03 earnings per share. On average, equities research analysts anticipate that AutoZone will post 128.32 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP Grant E. Mcgee sold 1,575 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $2,511.63, for a total value of $3,955,817.25. Following the completion of the sale, the vice president now owns 246 shares of the company’s stock, valued at $617,860.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Grant E. Mcgee sold 1,575 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $2,511.63, for a total value of $3,955,817.25. Following the completion of the sale, the vice president now owns 246 shares of the company’s stock, valued at $617,860.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Dennis W. Leriche sold 1,420 shares of the company’s stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $2,573.04, for a total value of $3,653,716.80. Following the completion of the sale, the vice president now directly owns 379 shares of the company’s stock, valued at approximately $975,182.16. The disclosure for this sale can be found here. Insiders sold 36,960 shares of company stock valued at $90,128,092 over the last quarter. Company insiders own 2.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AZO. AdvisorNet Financial Inc raised its stake in AutoZone by 83.3% during the fourth quarter. AdvisorNet Financial Inc now owns 11 shares of the company’s stock valued at $27,000 after buying an additional 5 shares in the last quarter. RFP Financial Group LLC acquired a new stake in AutoZone during the fourth quarter valued at approximately $27,000. Ameritas Advisory Services LLC acquired a new stake in AutoZone during the first quarter valued at approximately $27,000. Robbins Farley acquired a new stake in AutoZone during the third quarter valued at approximately $26,000. Finally, Legacy Bridge LLC acquired a new stake in AutoZone during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 91.12% of the company’s stock.

AutoZone Company Profile

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AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.