AutoZone (NYSE:AZO) Price Target Increased to $1,363.00 by Analysts at Citigroup

AutoZone (NYSE:AZO) had its price target boosted by equities researchers at Citigroup from $1,357.00 to $1,363.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s price target indicates a potential upside of 23.90% from the stock’s current price.

AZO has been the topic of a number of other reports. Wells Fargo & Co set a $1,275.00 price target on shares of AutoZone and gave the stock a “buy” rating in a report on Tuesday, September 24th. CIBC upgraded shares of AutoZone from a “market perform” rating to an “outperform” rating in a report on Friday, June 28th. Wedbush restated an “outperform” rating and issued a $1,240.00 price target (up from $1,100.00) on shares of AutoZone in a report on Thursday, September 19th. Goldman Sachs Group started coverage on shares of AutoZone in a report on Thursday, July 11th. They issued a “neutral” rating and a $1,183.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of AutoZone from $1,050.00 to $1,100.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. AutoZone has a consensus rating of “Buy” and an average target price of $1,136.00.

AZO stock opened at $1,100.11 on Monday. AutoZone has a twelve month low of $716.36 and a twelve month high of $1,186.60. The stock has a market capitalization of $27.23 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 1.39 and a beta of 0.63. The firm’s fifty day simple moving average is $1,109.01 and its two-hundred day simple moving average is $1,087.93.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $22.59 EPS for the quarter, topping the Zacks’ consensus estimate of $21.80 by $0.79. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. AutoZone had a net margin of 13.63% and a negative return on equity of 98.67%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $18.54 earnings per share. Equities research analysts forecast that AutoZone will post 65.36 earnings per share for the current fiscal year.

In related news, Director Earl G. Graves, Jr. sold 500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $1,077.04, for a total value of $538,520.00. Following the completion of the sale, the director now directly owns 4,607 shares of the company’s stock, valued at $4,961,923.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC lifted its stake in AutoZone by 13.6% in the second quarter. Atlas Capital Advisors LLC now owns 75 shares of the company’s stock worth $82,000 after acquiring an additional 9 shares during the period. Flagship Harbor Advisors LLC lifted its stake in AutoZone by 5.6% in the second quarter. Flagship Harbor Advisors LLC now owns 190 shares of the company’s stock worth $208,000 after acquiring an additional 10 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in AutoZone by 2.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 350 shares of the company’s stock worth $385,000 after acquiring an additional 10 shares during the period. Savant Capital LLC lifted its stake in AutoZone by 1.5% in the second quarter. Savant Capital LLC now owns 658 shares of the company’s stock worth $723,000 after acquiring an additional 10 shares during the period. Finally, OLD National Bancorp IN lifted its position in shares of AutoZone by 1.6% during the third quarter. OLD National Bancorp IN now owns 767 shares of the company’s stock valued at $832,000 after buying an additional 12 shares during the last quarter. 94.49% of the stock is owned by 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.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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