AutoZone, Inc. (NYSE:AZO) Receives $4,040.87 Consensus Price Target from Analysts

AutoZone, Inc. (NYSE:AZOGet Free Report) has received a consensus recommendation of “Moderate Buy” from the twenty-seven research firms that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $4,040.8696.

A number of equities research analysts recently issued reports on AZO shares. JPMorgan Chase & Co. decreased their price target on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. The Goldman Sachs Group decreased their price target on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Evercore reissued an “outperform” rating on shares of AutoZone in a research note on Tuesday, May 26th. Oppenheimer reissued an “outperform” rating and set a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. Finally, Morgan Stanley decreased their price target on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th.

View Our Latest Report on AZO

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. The trade was a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian Hannasch bought 165 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the transaction, the director owned 1,219 shares in the company, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% 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 the company. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of AutoZone by 6.6% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock valued at $21,315,000 after acquiring an additional 306 shares during the period. Numerai GP LLC increased its holdings in shares of AutoZone by 1,199.3% in the 3rd quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock valued at $7,525,000 after acquiring an additional 1,619 shares during the period. Caprock Group LLC purchased a new position in shares of AutoZone in the 3rd quarter valued at $4,049,000. Jupiter Asset Management Ltd. purchased a new position in shares of AutoZone in the 4th quarter valued at $1,808,000. Finally, Savant Capital LLC increased its holdings in shares of AutoZone by 21.3% in the 3rd quarter. Savant Capital LLC now owns 1,015 shares of the company’s stock valued at $4,355,000 after acquiring an additional 178 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

NYSE:AZO opened at $3,073.95 on Thursday. The firm has a market capitalization of $50.66 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.58 and a beta of 0.35. AutoZone has a 1 year low of $2,928.11 and a 1 year high of $4,388.11. The business has a 50 day simple moving average of $3,387.51 and a 200-day simple moving average of $3,532.78.

AutoZone (NYSE:AZOGet Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the company earned $35.36 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts expect that AutoZone will post 150.18 earnings per share for the current fiscal year.

AutoZone Company Profile

(Get Free Report)

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.

Further Reading

Analyst Recommendations for AutoZone (NYSE:AZO)

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