AutoZone (NYSE:AZO) Price Target Raised to $3,523.00 at Truist Financial

AutoZone (NYSE:AZOFree Report) had its price target raised by Truist Financial from $3,363.00 to $3,523.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. Barclays lifted their target price on shares of AutoZone from $2,779.00 to $3,100.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. UBS Group lifted their target price on shares of AutoZone from $3,100.00 to $3,425.00 and gave the stock a buy rating in a research note on Wednesday, February 28th. StockNews.com downgraded shares of AutoZone from a buy rating to a hold rating in a research note on Wednesday, March 27th. Stephens lifted their target price on shares of AutoZone from $3,000.00 to $3,070.00 and gave the stock an overweight rating in a research note on Wednesday, December 6th. Finally, Morgan Stanley lifted their target price on shares of AutoZone from $2,900.00 to $3,100.00 and gave the stock an overweight rating in a research note on Wednesday, February 28th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $3,089.61.

Check Out Our Latest Research Report on AutoZone

AutoZone Stock Performance

NYSE AZO opened at $3,170.04 on Tuesday. AutoZone has a 52-week low of $2,277.88 and a 52-week high of $3,256.37. The company has a 50-day simple moving average of $2,937.47 and a 200 day simple moving average of $2,713.10. The company has a market capitalization of $54.84 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 1.67 and a beta of 0.70.

AutoZone (NYSE:AZOGet Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter last year, the company posted $24.64 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, analysts forecast that AutoZone will post 151.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the transaction, the chairman now owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric S. Gould sold 2,100 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the vice president now directly owns 910 shares of the company’s stock, valued at approximately $2,912,000. The disclosure for this sale can be found here. Insiders sold a total of 27,797 shares of company stock valued at $81,010,974 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On AutoZone

A number of institutional investors have recently made changes to their positions in the business. State Street Corp boosted its stake in shares of AutoZone by 1.4% in the 2nd quarter. State Street Corp now owns 809,113 shares of the company’s stock valued at $2,017,410,000 after purchasing an additional 11,438 shares in the last quarter. International Assets Investment Management LLC raised its holdings in AutoZone by 232,194.6% during the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after buying an additional 731,413 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in AutoZone by 107,977.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after buying an additional 698,613 shares during the last quarter. Royal Bank of Canada raised its holdings in AutoZone by 1.3% during the 3rd quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock valued at $1,121,572,000 after buying an additional 5,650 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in AutoZone by 111.4% during the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after buying an additional 176,623 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

About AutoZone

(Get Free Report)

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.

Further Reading

Analyst Recommendations for AutoZone (NYSE:AZO)

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