Analysts Set AutoZone, Inc. (NYSE:AZO) PT at $4,312.13

Shares of AutoZone, Inc. (NYSE:AZO) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $4,312.1250.

AZO has been the topic of a number of research analyst reports. Mizuho boosted their target price on AutoZone from $3,550.00 to $3,600.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Truist Financial dropped their price objective on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Morgan Stanley upped their price objective on AutoZone from $4,000.00 to $4,020.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Evercore upped their price objective on AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Finally, Barclays upped their price objective on AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th.

Insider Buying and Selling

In related news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in AutoZone by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock valued at $7,711,912,000 after acquiring an additional 26,544 shares during the period. Morgan Stanley raised its holdings in AutoZone by 17.8% during the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after acquiring an additional 74,555 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in AutoZone by 1.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock valued at $1,312,654,000 after acquiring an additional 7,390 shares during the period. Norges Bank bought a new stake in AutoZone during the 4th quarter valued at $939,205,000. Finally, PineStone Asset Management Inc. raised its holdings in AutoZone by 1.5% during the 4th quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock valued at $912,900,000 after acquiring an additional 3,868 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $3,413.04 on Friday. The stock has a 50 day moving average price of $3,515.61 and a two-hundred day moving average price of $3,606.10. The firm has a market capitalization of $56.25 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.76 and a beta of 0.43. AutoZone has a 52 week low of $3,210.72 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the company posted $28.29 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts forecast that AutoZone will post 148.93 earnings per share for the current year.

AutoZone Company Profile

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.