AutoZone (NYSE:AZO – Get Rating) had its target price upped by investment analysts at Truist Financial from $2,533.00 to $2,792.00 in a research note issued to investors on Thursday, The Fly reports. Truist Financial’s price objective indicates a potential upside of 8.26% from the company’s current price.
Other equities analysts have also issued research reports about the stock. StockNews.com started coverage on shares of AutoZone in a research report on Wednesday, October 12th. They set a “buy” rating for the company. UBS Group raised their price target on shares of AutoZone from $2,100.00 to $2,260.00 and gave the stock a “neutral” rating in a research note on Monday, September 12th. Stephens upped their price objective on AutoZone to $2,400.00 in a research note on Tuesday, September 20th. DA Davidson raised their target price on AutoZone from $1,950.00 to $2,100.00 in a research report on Wednesday, October 26th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $2,450.00 target price on shares of AutoZone in a research note on Thursday, September 22nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,467.73.
AutoZone Stock Up 0.9 %
AutoZone stock opened at $2,579.00 on Thursday. AutoZone has a 52 week low of $1,703.32 and a 52 week high of $2,587.60. The company’s 50 day moving average price is $2,356.34 and its two-hundred day moving average price is $2,208.86. The stock has a market cap of $48.95 billion, a P/E ratio of 21.94, a P/E/G ratio of 1.54 and a beta of 0.78.
AutoZone (NYSE:AZO – Get Rating) last issued its quarterly earnings results on Monday, September 19th. The company reported $40.51 EPS for the quarter, topping analysts’ consensus estimates of $38.38 by $2.13. The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.16 billion. AutoZone had a negative return on equity of 79.74% and a net margin of 14.95%. AutoZone’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company posted $35.72 earnings per share. On average, equities analysts anticipate that AutoZone will post 125.33 EPS for the current year.
Insider Activity at AutoZone
In other AutoZone news, CEO William C. Rhodes III sold 14,528 shares of the stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $2,271.56, for a total value of $33,001,223.68. Following the sale, the chief executive officer now directly owns 15,976 shares in the company, valued at approximately $36,290,442.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Philip B. Daniele sold 2,100 shares of AutoZone stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $2,150.06, for a total transaction of $4,515,126.00. Following the completion of the sale, the executive vice president now owns 526 shares in the company, valued at approximately $1,130,931.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William C. Rhodes III sold 14,528 shares of the company’s stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $2,271.56, for a total transaction of $33,001,223.68. Following the completion of the transaction, the chief executive officer now owns 15,976 shares in the company, valued at $36,290,442.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,709 shares of company stock valued at $80,143,400. Corporate insiders own 2.59% of the company’s stock.
Institutional Investors Weigh In On AutoZone
Hedge funds have recently bought and sold shares of the stock. Belmont Capital LLC purchased a new stake in shares of AutoZone during the 3rd quarter valued at $26,000. Robbins Farley purchased a new position in shares of AutoZone in the third quarter valued at about $26,000. Tcwp LLC bought a new position in shares of AutoZone during the first quarter valued at about $30,000. Kings Point Capital Management purchased a new stake in AutoZone in the 1st quarter worth approximately $31,000. Finally, WD Rutherford LLC bought a new stake in shares of AutoZone in the 3rd quarter worth approximately $32,000. 92.90% of the stock is currently owned by institutional investors.
AutoZone Company Profile
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.
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