AutoZone (NYSE:AZO) Price Target Raised to $4,274.00

AutoZone (NYSE:AZO) had its price target raised by The Goldman Sachs Group from $4,234.00 to $4,274.00 in a report released on Wednesday,MarketScreener reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on AZO. Morgan Stanley dropped their price objective on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. Gabelli reissued a “buy” rating on shares of AutoZone in a research note on Thursday, November 6th. TD Cowen reduced their price target on shares of AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Robert W. Baird upgraded AutoZone to a “strong-buy” rating in a report on Thursday, December 4th. Finally, Evercore reissued an “outperform” rating and set a $4,100.00 target price on shares of AutoZone in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4,296.25.

AutoZone Stock Up 2.1%

AZO opened at $3,681.24 on Wednesday. The company has a market cap of $61.00 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.72 and a beta of 0.41. AutoZone has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The company has a 50-day moving average price of $3,550.74 and a 200 day moving average price of $3,847.96.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the business posted $32.52 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that AutoZone will post 152.94 earnings per share for the current year.

Insiders Place Their Bets

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the sale, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the sale, the director directly owned 3,564 shares in the company, valued at $11,910,852.36. This trade represents a 2.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders acquired 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. Company insiders own 2.60% of the company’s stock.

Institutional Trading of AutoZone

Several institutional investors and hedge funds have recently bought and sold shares of AZO. Turning Point Benefit Group Inc. purchased a new stake in shares of AutoZone in the third quarter valued at about $25,000. Raleigh Capital Management Inc. purchased a new stake in AutoZone in the 3rd quarter valued at approximately $26,000. Torren Management LLC acquired a new position in AutoZone during the 4th quarter worth approximately $27,000. Aspect Partners LLC raised its stake in shares of AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares in the last quarter. Finally, Global Trust Asset Management LLC raised its stake in shares of AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after buying an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

About AutoZone

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.