AutoZone (NYSE:AZO) PT Lowered to $3,394.00 at Truist Financial

AutoZone (NYSE:AZO) had its target price decreased by Truist Financial from $3,523.00 to $3,394.00 in a report issued on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. UBS Group lifted their price objective on AutoZone from $3,100.00 to $3,425.00 and gave the company a buy rating in a report on Wednesday, February 28th. Citigroup lowered their price objective on AutoZone from $3,505.00 to $3,420.00 and set a buy rating on the stock in a report on Tuesday, May 7th. Wolfe Research lowered their price objective on AutoZone from $3,150.00 to $3,000.00 and set an outperform rating on the stock in a report on Wednesday. Evercore ISI lowered their price objective on AutoZone from $3,300.00 to $3,250.00 and set an outperform rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the company an overweight rating in a report on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $3,066.53.

AutoZone Stock Up 0.7 %

NYSE AZO opened at $2,796.98 on Wednesday. AutoZone has a 52-week low of $2,277.88 and a 52-week high of $3,256.37. The business’s 50-day moving average price is $3,009.41 and its 200 day moving average price is $2,827.75. The firm has a market cap of $48.44 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.37 and a beta of 0.72.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the company earned $34.12 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that AutoZone will post 152.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Jenna M. Bedsole bought 36 shares of the stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the purchase, the vice president now owns 36 shares of the company’s stock, valued at $99,255.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Jenna M. Bedsole bought 36 shares of the stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the purchase, the vice president now owns 36 shares of the company’s stock, valued at $99,255.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the vice president now directly owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The disclosure for this sale can be found here. In the last three months, insiders sold 15,990 shares of company stock valued at $50,335,193. Company insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

Several institutional investors have recently made changes to their positions in the stock. Cetera Advisors LLC grew its stake in shares of AutoZone by 9.8% during the 1st quarter. Cetera Advisors LLC now owns 2,201 shares of the company’s stock valued at $6,937,000 after buying an additional 196 shares during the period. Cetera Investment Advisers grew its stake in shares of AutoZone by 311.3% during the 1st quarter. Cetera Investment Advisers now owns 5,803 shares of the company’s stock valued at $18,289,000 after buying an additional 4,392 shares during the period. Atria Investments Inc grew its stake in shares of AutoZone by 6.2% during the 1st quarter. Atria Investments Inc now owns 2,347 shares of the company’s stock valued at $7,397,000 after buying an additional 136 shares during the period. Swedbank AB purchased a new stake in shares of AutoZone during the 1st quarter valued at $49,339,000. Finally, Sanibel Captiva Trust Company Inc. grew its stake in shares of AutoZone by 2.2% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 3,566 shares of the company’s stock valued at $11,239,000 after buying an additional 76 shares during the period. 92.74% of the stock is owned by hedge funds and other 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.