AutoZone (NYSE:AZO) Given New $3,979.00 Price Target at BNP Paribas Exane

AutoZone (NYSE:AZO) had its price objective lowered by BNP Paribas Exane from $4,478.00 to $3,979.00 in a research report sent to investors on Wednesday morning,MarketScreener reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also issued reports about the company. TD Cowen lowered their price objective on AutoZone from $4,250.00 to $3,700.00 and set a “buy” rating for the company in a research report on Wednesday. Oppenheimer restated an “outperform” rating and set a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. Roth Mkm decreased their target price on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird dropped their price target on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, DA Davidson set a $3,750.00 price target on AutoZone in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Stock Performance

Shares of NYSE AZO opened at $2,979.52 on Wednesday. The company’s 50 day moving average price is $3,438.99 and its 200-day moving average price is $3,575.13. AutoZone has a 52-week low of $2,945.00 and a 52-week high of $4,388.11. The company has a market capitalization of $49.10 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 1.58 and a beta of 0.43.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. AutoZone’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $35.36 earnings per share. Analysts forecast that AutoZone will post 149.35 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by insiders.

Institutional Trading of AutoZone

A number of hedge funds and other institutional investors have recently bought and sold shares of AZO. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone in the third quarter valued at $25,000. Raleigh Capital Management Inc. bought a new stake in shares of AutoZone during the third quarter worth about $26,000. Torren Management LLC acquired a new stake in shares of AutoZone in the 4th quarter worth about $27,000. Transamerica Financial Advisors LLC raised its holdings in shares of AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Key Stories Impacting AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone posted Q3 sales growth of 8.4% year over year and beat EPS estimates, with commercial sales rising 10.4% and management highlighting stronger share gains and faster store expansion. AutoZone Q3 Earnings Beat Estimates on Strong Sales Growth
• Positive Sentiment: Management said late-quarter softness was largely weather-related noise and emphasized ongoing commercial momentum, which supports the long-term growth story. AZO Q3 Earnings Call Puts Focus on Commercial Momentum
• Positive Sentiment: Wall Street analysts remain broadly constructive on AZO, with several firms reiterating buy-equivalent ratings even as they trimmed price targets after the earnings release. Are Wall Street Analysts Predicting AutoZone Stock Will Climb or Sink?
• Neutral Sentiment: AutoZone is still on track to open 355 to 365 new locations this fiscal year, which supports growth but also requires continued capital spending. AutoZone Fell Short of Wall Street’s Expectations. Should You Buy the Dip?
• Negative Sentiment: The stock fell sharply after AutoZone’s revenue came in slightly below estimates, and investors also reacted to margin pressure and a 57-basis-point decline in gross margin. AutoZone shares slide on quarterly revenue miss
• Negative Sentiment: International growth slowed and remained challenged, adding to concerns that the quarter’s solid earnings quality may not be fully translating into higher profitability. AutoZone shares slide on quarterly revenue miss
• Negative Sentiment: Multiple brokers lowered price targets after the print, which can reinforce bearish near-term sentiment even though most still kept bullish ratings. AutoZone Analysts Slash Their Forecasts Following Q3 Results

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.