AutoZone (AZO) PT Raised to $1,126.00 at JPMorgan Chase & Co.

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AutoZone (NYSE:AZO) had its price objective increased by JPMorgan Chase & Co. from $995.00 to $1,126.00 in a report issued on Monday, The Fly reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on AZO. ValuEngine lowered shares of AutoZone from a buy rating to a hold rating in a research note on Thursday, January 24th. Citigroup started coverage on shares of AutoZone in a research note on Monday, April 1st. They set a buy rating and a $1,206.00 price target on the stock. Zacks Investment Research upgraded shares of AutoZone from a hold rating to a buy rating and set a $976.00 price target on the stock in a research note on Monday, December 17th. Barclays restated an overweight rating and set a $1,050.00 price target (up previously from $950.00) on shares of AutoZone in a research note on Wednesday, February 27th. Finally, Morgan Stanley upped their price target on shares of AutoZone from $800.00 to $870.00 in a research note on Thursday, December 27th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. AutoZone presently has an average rating of Buy and an average price target of $960.13.

Shares of AutoZone stock opened at $1,051.37 on Monday. AutoZone has a 12-month low of $590.76 and a 12-month high of $1,074.67. The company has a market cap of $26.42 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 1.43 and a beta of 0.69.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, February 26th. The company reported $11.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $9.97 by $1.52. AutoZone had a net margin of 12.49% and a negative return on equity of 98.24%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the business posted $8.47 EPS. AutoZone’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts expect that AutoZone will post 61.74 earnings per share for the current fiscal year.

In other news, VP Thomas B. Newbern sold 7,500 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $995.92, for a total value of $7,469,400.00. Following the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at approximately $12,023,742.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Philip B. Daniele sold 740 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $920.00, for a total transaction of $680,800.00. Following the completion of the sale, the insider now directly owns 1,105 shares in the company, valued at $1,016,600. The disclosure for this sale can be found here. Insiders sold a total of 10,640 shares of company stock worth $10,370,907 over the last ninety days. Insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AZO. Berman Capital Advisors LLC purchased a new stake in AutoZone during the fourth quarter worth $26,000. Penserra Capital Management LLC purchased a new stake in AutoZone during the fourth quarter worth $30,000. Lindbrook Capital LLC purchased a new stake in AutoZone during the fourth quarter worth $35,000. CX Institutional purchased a new stake in AutoZone during the fourth quarter worth $71,000. Finally, Semmax Financial Advisors Inc. purchased a new stake in AutoZone during the fourth quarter worth $75,000. 95.06% of the stock is currently owned by hedge funds and other institutional investors.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

Read More: How Investors Use a Balance Sheet

The Fly

Analyst Recommendations for AutoZone (NYSE:AZO)

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