Recent Investment Analysts’ Ratings Updates for AutoZone (AZO)

A number of research firms have changed their ratings and price targets for AutoZone (NYSE: AZO):

• 5/24/2023 – AutoZone had its price target lowered by analysts at DA Davidson from $2,425.00 to $2,340.00.
• 5/24/2023 – AutoZone had its price target raised by analysts at Truist Financial Co. from $2,878.00 to $2,886.00.
• 5/24/2023 – AutoZone had its price target raised by analysts at Bank of America Co. from $1,890.00 to $2,120.00.
• 5/23/2023 – AutoZone had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $2,899.00 to $2,840.00.
• 5/22/2023 – AutoZone had its price target raised by analysts at Wedbush from $2,600.00 to $2,750.00.
• 5/18/2023 – AutoZone is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 5/17/2023 – AutoZone had its price target raised by analysts at Citigroup Inc. from $2,782.00 to $3,125.00.
• 5/15/2023 – AutoZone had its price target raised by analysts at Wells Fargo & Company from $2,850.00 to $3,000.00.
• 5/12/2023 – AutoZone had its price target raised by analysts at JPMorgan Chase & Co. from $2,750.00 to $2,975.00.
• 5/11/2023 – AutoZone had its “maintains” rating reaffirmed by analysts at 51job, Inc..
• 4/19/2023 – AutoZone had its price target raised by analysts at Raymond James from $2,650.00 to $2,850.00. They now have an “outperform” rating on the stock.

AutoZone Price Performance

AutoZone stock traded up $4.38 during mid-day trading on Friday, hitting $2,464.13. The company’s stock had a trading volume of 145,453 shares, compared to its average volume of 150,954. The firm’s 50 day moving average is $2,575.67 and its 200 day moving average is $2,499.14. The company has a market cap of $45.34 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.68. AutoZone, Inc. has a 52-week low of $1,959.58 and a 52-week high of $2,750.00.

AutoZone (NYSE:AZO – Get Rating) last announced its quarterly earnings data on Tuesday, May 23rd. The company reported $34.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $30.84 by $3.28. AutoZone had a negative return on equity of 64.72% and a net margin of 14.32%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the business earned $29.03 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts forecast that AutoZone, Inc. will post 129.18 EPS for the current year.

Insider Activity

In other news, CEO William C. Rhodes III sold 29,511 shares of the stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $2,427.27, for a total transaction of $71,631,164.97. Following the transaction, the chief executive officer now owns 14,825 shares of the company’s stock, valued at approximately $35,984,277.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AutoZone news, VP Dennis W. Leriche sold 1,420 shares of the firm’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $2,573.04, for a total value of $3,653,716.80. Following the completion of the sale, the vice president now owns 379 shares in the company, valued at approximately $975,182.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William C. Rhodes III sold 29,511 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $2,427.27, for a total value of $71,631,164.97. Following the completion of the sale, the chief executive officer now owns 14,825 shares of the company’s stock, valued at approximately $35,984,277.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,960 shares of company stock valued at $90,128,092. Insiders own 2.59% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Several institutional investors have recently bought and sold shares of AZO. Western Financial Corp CA lifted its position in AutoZone by 0.7% in the 1st quarter. Western Financial Corp CA now owns 580 shares of the company’s stock valued at $1,426,000 after acquiring an additional 4 shares in the last quarter. Eudaimonia Partners LLC lifted its position in shares of AutoZone by 1.2% during the 1st quarter. Eudaimonia Partners LLC now owns 338 shares of the company’s stock worth $831,000 after buying an additional 4 shares in the last quarter. Ellevest Inc. raised its holdings in shares of AutoZone by 7.4% in the 1st quarter. Ellevest Inc. now owns 58 shares of the company’s stock worth $143,000 after purchasing an additional 4 shares during the period. Coastal Investment Advisors Inc. raised its holdings in shares of AutoZone by 1.2% in the 1st quarter. Coastal Investment Advisors Inc. now owns 340 shares of the company’s stock worth $836,000 after purchasing an additional 4 shares during the period. Finally, Gateway Advisory LLC raised its holdings in shares of AutoZone by 1.9% in the 1st quarter. Gateway Advisory LLC now owns 218 shares of the company’s stock worth $536,000 after purchasing an additional 4 shares during the period. Institutional investors own 91.12% of the company’s stock.

AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.