AutoZone (NYSE:AZO)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research report issued on Tuesday, 24/7 WallStreet reports. They presently have a $1,300.00 price target on the stock. Wedbush’s target price indicates a potential upside of 16.14% from the company’s previous close.
A number of other brokerages have also issued reports on AZO. Nomura Instinet reissued a “buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. JPMorgan Chase & Co. raised their price target on AutoZone from $1,190.00 to $1,265.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Wolfe Research raised AutoZone from a “peer perform” rating to an “outperform” rating in a research note on Wednesday, March 25th. Oppenheimer reaffirmed a “buy” rating on shares of AutoZone in a research report on Tuesday, May 26th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. AutoZone presently has a consensus rating of “Buy” and an average price target of $1,215.88.
Shares of AutoZone stock traded down $8.60 on Tuesday, reaching $1,119.32. The company had a trading volume of 1,177 shares, compared to its average volume of 239,607. The firm has a market cap of $26.34 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 1.88 and a beta of 0.91. The firm’s 50-day moving average price is $1,114.46 and its two-hundred day moving average price is $1,066.49. AutoZone has a 1 year low of $684.91 and a 1 year high of $1,274.41.
In other news, VP Kristen C. Wright sold 1,890 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $1,140.00, for a total value of $2,154,600.00. Following the completion of the transaction, the vice president now owns 2,137 shares of the company’s stock, valued at approximately $2,436,180. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Philip B. Daniele sold 176 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $1,100.21, for a total value of $193,636.96. Following the completion of the transaction, the vice president now directly owns 247 shares of the company’s stock, valued at approximately $271,751.87. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of AZO. Rafferty Asset Management LLC lifted its holdings in shares of AutoZone by 21.6% in the 4th quarter. Rafferty Asset Management LLC now owns 225 shares of the company’s stock valued at $268,000 after buying an additional 40 shares during the period. Assetmark Inc. grew its position in AutoZone by 4.6% in the fourth quarter. Assetmark Inc. now owns 252 shares of the company’s stock worth $300,000 after acquiring an additional 11 shares during the period. Korea Investment CORP grew its position in AutoZone by 33.2% in the fourth quarter. Korea Investment CORP now owns 17,266 shares of the company’s stock worth $20,569,000 after acquiring an additional 4,300 shares during the period. Alphasimplex Group LLC purchased a new position in AutoZone in the fourth quarter worth approximately $251,000. Finally, Piedmont Investment Advisors Inc. grew its position in AutoZone by 1.6% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 2,219 shares of the company’s stock worth $2,644,000 after acquiring an additional 35 shares during the period. 91.75% of the stock is owned by institutional investors and hedge funds.
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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