AutoZone (NYSE:AZO) Price Target Cut to $4,250.00 by Analysts at TD Cowen

AutoZone (NYSE:AZO) had its price objective lowered by stock analysts at TD Cowen from $4,400.00 to $4,250.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 20.26% from the stock’s previous close.

AZO has been the subject of several other research reports. Barclays boosted their price objective on shares of AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Robert W. Baird lowered shares of AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price target on the stock. in a report on Monday, February 9th. Mizuho upped their price target on AutoZone from $3,550.00 to $3,600.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Roth Mkm decreased their price objective on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, The Goldman Sachs Group raised their price objective on AutoZone from $4,274.00 to $4,345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4,312.13.

AutoZone Stock Performance

AZO stock traded down $28.85 during trading on Monday, reaching $3,534.00. 5,420 shares of the company traded hands, compared to its average volume of 161,072. The business has a 50 day simple moving average of $3,649.70 and a 200 day simple moving average of $3,799.52. AutoZone has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The company has a market capitalization of $58.56 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.82 and a beta of 0.41.

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

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 4,887 shares in the company, valued at approximately $16,102,665. This represents a 4.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $324,173.03. Following the sale, the director owned 3,564 shares of the company’s stock, valued at $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,447 shares of company stock worth $34,179,923 in the last three months. 2.60% of the stock is owned by company insiders.

Institutional Trading of AutoZone

Large investors have recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after purchasing an additional 14 shares during the period. Sivia Capital Partners LLC purchased a new position in AutoZone during the 2nd quarter worth approximately $356,000. AE Wealth Management LLC raised its position in AutoZone by 7.2% during the 2nd quarter. AE Wealth Management LLC now owns 74 shares of the company’s stock worth $276,000 after buying an additional 5 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in AutoZone during the 2nd quarter valued at approximately $245,000. Finally, SBI Securities Co. Ltd. lifted its stake in AutoZone by 65.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 43 shares of the company’s stock valued at $160,000 after acquiring an additional 17 shares during the period. 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.