AutoZone (NYSE:AZO) PT Lowered to $3,346.00 at Evercore ISI

AutoZone (NYSE:AZO) had its target price lowered by Evercore ISI from $3,400.00 to $3,346.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Mizuho assumed coverage on AutoZone in a research report on Tuesday, March 19th. They set a buy rating and a $3,450.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the company an overweight rating in a research report on Wednesday, February 28th. Truist Financial increased their price objective on AutoZone from $3,363.00 to $3,523.00 and gave the company a buy rating in a research report on Tuesday, April 2nd. UBS Group increased their price objective on AutoZone from $3,100.00 to $3,425.00 and gave the company a buy rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley increased their price objective on AutoZone from $2,900.00 to $3,100.00 and gave the company an overweight rating in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AutoZone currently has an average rating of Moderate Buy and a consensus price target of $3,086.61.

AutoZone Trading Up 1.2 %

NYSE AZO opened at $2,973.17 on Tuesday. AutoZone has a 12 month low of $2,277.88 and a 12 month high of $3,256.37. The stock has a market cap of $51.50 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.45 and a beta of 0.70. The stock’s fifty day moving average price is $2,998.95 and its 200-day moving average price is $2,754.16.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the prior year, the firm posted $24.64 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, analysts forecast that AutoZone will post 151.98 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the transaction, the vice president now owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the sale, the vice president now owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Daniele sold 4,190 shares of AutoZone stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the completion of the sale, the chief executive officer now directly owns 900 shares in the company, valued at approximately $2,845,512. The disclosure for this sale can be found here. Insiders have sold 15,990 shares of company stock valued at $50,335,193 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently bought and sold shares of AZO. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of AutoZone during the 3rd quarter worth $25,000. Rock Creek Group LP acquired a new position in shares of AutoZone in the third quarter valued at about $25,000. Rise Advisors LLC acquired a new position in shares of AutoZone in the first quarter valued at about $32,000. First Capital Advisors Group LLC. acquired a new position in shares of AutoZone in the second quarter valued at about $32,000. Finally, MUFG Americas Holdings Corp increased its holdings in shares of AutoZone by 166.7% in the third quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock valued at $34,000 after purchasing an additional 10 shares during the period. 92.74% of the stock is owned by institutional investors.

About AutoZone

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.