AutoZone (NYSE:AZO) PT Raised to $1,357.00

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AutoZone (NYSE:AZO) had its price objective boosted by Citigroup from $1,234.00 to $1,357.00 in a research note published on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer raised shares of AutoZone from a market perform rating to an outperform rating and boosted their price objective for the company from $900.00 to $1,225.00 in a research report on Friday, June 28th. Wedbush reaffirmed an outperform rating and issued a $1,100.00 price objective (up from $1,030.00) on shares of AutoZone in a research report on Wednesday, May 22nd. Wells Fargo & Co reaffirmed a buy rating and issued a $1,140.00 price objective on shares of AutoZone in a research report on Tuesday, May 21st. Goldman Sachs Group began coverage on shares of AutoZone in a research report on Thursday, July 11th. They issued a neutral rating and a $1,183.00 price objective on the stock. Finally, ValuEngine cut shares of AutoZone from a buy rating to a hold rating in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $1,068.94.

AZO opened at $1,149.26 on Friday. The stock has a market capitalization of $27.69 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.41 and a beta of 0.65. AutoZone has a 12 month low of $705.01 and a 12 month high of $1,186.60. The firm’s fifty day simple moving average is $1,104.98 and its 200 day simple moving average is $1,061.30.

In other AutoZone news, Director Earl G. Graves, Jr. sold 500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $1,077.04, for a total transaction of $538,520.00. Following the sale, the director now directly owns 4,607 shares of the company’s stock, valued at approximately $4,961,923.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Domingo Hurtado sold 1,050 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $1,132.52, for a total transaction of $1,189,146.00. Following the sale, the insider now directly owns 1,050 shares in the company, valued at $1,189,146. The disclosure for this sale can be found here. Insiders have sold a total of 4,350 shares of company stock worth $4,863,666 over the last three months. Insiders own 2.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Aperio Group LLC increased its stake in shares of AutoZone by 24.6% during the 2nd quarter. Aperio Group LLC now owns 36,776 shares of the company’s stock worth $40,434,000 after purchasing an additional 7,252 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of AutoZone during the 1st quarter worth about $4,822,000. Wealthfront Advisers LLC increased its stake in shares of AutoZone by 136.7% during the 1st quarter. Wealthfront Advisers LLC now owns 819 shares of the company’s stock worth $839,000 after purchasing an additional 473 shares during the last quarter. OLD National Bancorp IN grew its stake in AutoZone by 61.3% in the 2nd quarter. OLD National Bancorp IN now owns 755 shares of the company’s stock valued at $830,000 after buying an additional 287 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its stake in AutoZone by 14.0% in the 1st quarter. Riverhead Capital Management LLC now owns 3,441 shares of the company’s stock valued at $3,524,000 after buying an additional 423 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

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.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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