AutoZone (NYSE:AZO) Price Target Raised to $4,200.00

AutoZone (NYSE:AZO) had its price target raised by Wells Fargo & Company from $3,850.00 to $4,200.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 11.11% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Bank of America lifted their price objective on AutoZone from $3,600.00 to $3,700.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Evercore ISI raised their target price on shares of AutoZone from $3,525.00 to $3,700.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. BMO Capital Markets upped their price target on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. DA Davidson upgraded shares of AutoZone from a “neutral” rating to a “buy” rating and lifted their price target for the company from $3,500.00 to $4,192.00 in a report on Friday, March 21st. Finally, Truist Financial upped their price objective on AutoZone from $3,841.00 to $3,995.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $3,837.82.

AutoZone Trading Up 0.6%

NYSE:AZO opened at $3,779.98 on Monday. The firm has a market cap of $63.44 billion, a P/E ratio of 25.25, a PEG ratio of 1.86 and a beta of 0.44. The stock’s 50 day simple moving average is $3,658.37 and its 200-day simple moving average is $3,423.45. AutoZone has a 12-month low of $2,728.97 and a 12-month high of $3,916.81.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Research analysts forecast that AutoZone will post 152.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Domingo Hurtado sold 4,800 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the transaction, the vice president now owns 159 shares of the company’s stock, valued at approximately $581,940. This represents a 96.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Bailey L. Childress sold 160 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the sale, the senior vice president now owns 50 shares of the company’s stock, valued at approximately $177,500. This trade represents a 76.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,521 shares of company stock valued at $42,177,331. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of AutoZone

A number of hedge funds and other institutional investors have recently made changes to their positions in AZO. Vanguard Group Inc. increased its position in shares of AutoZone by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company’s stock worth $6,709,967,000 after purchasing an additional 13,643 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of AutoZone by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock worth $3,570,296,000 after purchasing an additional 65,368 shares during the last quarter. GAMMA Investing LLC grew its stake in AutoZone by 435,031.1% in the first quarter. GAMMA Investing LLC now owns 770,182 shares of the company’s stock worth $2,936,535,000 after purchasing an additional 770,005 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after buying an additional 419,375 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in AutoZone by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company’s stock valued at $1,331,870,000 after buying an additional 24,701 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

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.