Brokerages Set AutoZone, Inc. (NYSE:AZO) Target Price at $3,182.33

Shares of AutoZone, Inc. (NYSE:AZO) have been assigned a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, fourteen have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $3,202.71.

Several equities research analysts recently issued reports on the company. BNP Paribas upgraded AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Citigroup cut their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and lowered their price objective for the company from $3,205.00 to $2,917.00 in a research note on Monday. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Truist Financial raised their price target on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research report on Monday.

Insider Buying and Selling at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the transaction, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock worth $46,225,660 over the last three months. Insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

Large investors have recently bought and sold shares of the business. PineStone Asset Management Inc. raised its holdings in shares of AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after buying an additional 179,543 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in AutoZone during the 2nd quarter valued at approximately $424,000. Captrust Financial Advisors lifted its position in AutoZone by 564.2% during the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after acquiring an additional 129,193 shares during the period. Baillie Gifford & Co. grew its stake in shares of AutoZone by 2,714.8% in the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after purchasing an additional 115,924 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of AutoZone by 106.7% in the first quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock valued at $371,552,000 after purchasing an additional 60,852 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO stock opened at $3,129.16 on Friday. AutoZone has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The firm has a market cap of $53.46 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. The company has a 50-day moving average of $3,131.84 and a two-hundred day moving average of $3,007.34.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same quarter last year, the business posted $46.46 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that AutoZone will post 157.99 EPS for the current fiscal year.

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.