Evercore ISI Lowers AutoZone (NYSE:AZO) Price Target to $3,346.00

AutoZone (NYSE:AZO) had its price target decreased by Evercore ISI from $3,400.00 to $3,346.00 in a report published on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Truist Financial boosted their price objective on shares of AutoZone from $3,363.00 to $3,523.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. upped their price target on AutoZone from $3,000.00 to $3,200.00 and gave the company an overweight rating in a report on Wednesday, February 28th. StockNews.com downgraded AutoZone from a buy rating to a hold rating in a research report on Friday, April 12th. TheStreet cut AutoZone from a c rating to a d+ rating in a research report on Wednesday, December 20th. Finally, Barclays raised their target price on AutoZone from $2,779.00 to $3,100.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $3,086.61.

AutoZone Stock Up 0.4 %

Shares of NYSE:AZO opened at $2,985.55 on Tuesday. The business has a 50 day moving average price of $3,005.06 and a 200 day moving average price of $2,757.38. The company has a market cap of $51.71 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 1.46 and a beta of 0.70. AutoZone has a twelve month low of $2,277.88 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $26.08 by $2.81. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. AutoZone’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $24.64 earnings per share. Analysts anticipate that AutoZone will post 152.4 EPS for the current year.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Philip B. Daniele sold 4,190 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the completion of the transaction, the chief executive officer now directly owns 900 shares of the company’s stock, valued at $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 in the last three months. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently made changes to their positions in the company. RB Capital Management LLC acquired a new position in shares of AutoZone during the 1st quarter worth about $274,000. Fairfield Bush & CO. acquired a new position in AutoZone during the first quarter valued at approximately $57,000. Roundview Capital LLC grew its holdings in AutoZone by 8.1% during the first quarter. Roundview Capital LLC now owns 426 shares of the company’s stock valued at $871,000 after purchasing an additional 32 shares during the period. Cetera Advisor Networks LLC increased its stake in AutoZone by 31.7% in the first quarter. Cetera Advisor Networks LLC now owns 237 shares of the company’s stock valued at $485,000 after purchasing an additional 57 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in AutoZone by 24.4% in the first quarter. Sei Investments Co. now owns 12,966 shares of the company’s stock worth $26,331,000 after purchasing an additional 2,545 shares during the period. Institutional investors own 92.74% of the company’s stock.

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.