Citigroup Boosts AutoZone (NYSE:AZO) Price Target to $2,520.00

AutoZone (NYSE:AZOGet Rating) had its price target boosted by Citigroup from $2,250.00 to $2,520.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. UBS Group raised their price target on shares of AutoZone from $2,100.00 to $2,260.00 and gave the stock a neutral rating in a report on Monday, September 12th. Stephens raised their price target on shares of AutoZone from $2,195.00 to $2,285.00 and gave the stock an overweight rating in a report on Thursday, May 26th. Wedbush reaffirmed an outperform rating on shares of AutoZone in a report on Monday, May 23rd. DA Davidson raised their price target on shares of AutoZone from $1,900.00 to $1,920.00 and gave the stock a neutral rating in a report on Wednesday, May 25th. Finally, The Goldman Sachs Group raised shares of AutoZone from a neutral rating to a buy rating and raised their target price for the stock from $1,969.00 to $2,296.00 in a report on Monday, June 27th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $2,356.53.

AutoZone Stock Down 1.0 %

NYSE:AZO opened at $2,082.64 on Tuesday. AutoZone has a 52 week low of $1,634.34 and a 52 week high of $2,362.24. The firm has a 50 day moving average of $2,185.96 and a 200 day moving average of $2,096.21. The stock has a market capitalization of $40.59 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.53 and a beta of 0.78.

AutoZone (NYSE:AZOGet Rating) last posted its earnings results on Monday, September 19th. The company reported $40.51 EPS for the quarter, beating analysts’ consensus estimates of $38.38 by $2.13. The company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.16 billion. AutoZone had a net margin of 14.95% and a negative return on equity of 79.74%. AutoZone’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $35.72 earnings per share. As a group, analysts expect that AutoZone will post 122.78 EPS for the current year.

Insider Activity at AutoZone

In related news, CEO William C. Rhodes III sold 2,958 shares of the firm’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $2,206.33, for a total transaction of $6,526,324.14. Following the sale, the chief executive officer now owns 15,935 shares in the company, valued at $35,157,868.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Domingo Hurtado sold 395 shares of AutoZone stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $2,217.53, for a total value of $875,924.35. Following the sale, the vice president now owns 362 shares in the company, valued at $802,745.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William C. Rhodes III sold 2,958 shares of AutoZone stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $2,206.33, for a total transaction of $6,526,324.14. Following the completion of the sale, the chief executive officer now owns 15,935 shares in the company, valued at approximately $35,157,868.55. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Institutional Trading of AutoZone

Institutional investors have recently modified their holdings of the stock. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in shares of AutoZone in the fourth quarter valued at about $27,000. Riverview Trust Co acquired a new stake in shares of AutoZone in the first quarter valued at about $27,000. Tcwp LLC purchased a new position in shares of AutoZone in the first quarter worth about $30,000. Kings Point Capital Management purchased a new position in shares of AutoZone in the first quarter worth about $31,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of AutoZone in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

AutoZone Company Profile

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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, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

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