AutoZone (NYSE:AZO) Price Target Raised to $3,830.00

AutoZone (NYSE:AZO) had its price target boosted by JPMorgan Chase & Co. from $3,775.00 to $3,830.00 in a research note released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

AZO has been the subject of a number of other reports. Guggenheim increased their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. BMO Capital Markets increased their price objective on AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen increased their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Truist Financial increased their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley raised their price target on AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3,646.62.

AutoZone Price Performance

NYSE AZO opened at $3,620.28 on Wednesday. The firm has a market cap of $60.76 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.86 and a beta of 0.71. The stock’s 50-day moving average is $3,365.96 and its 200-day moving average is $3,229.56. AutoZone has a one year low of $2,728.97 and a one year high of $3,636.96.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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). The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. Equities analysts anticipate that AutoZone will post 152.94 EPS for the current year.

Insider Transactions at AutoZone

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now owns 50 shares of the company’s stock, valued at $177,500. This represents a 76.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. TFR Capital LLC. bought a new stake in AutoZone in the fourth quarter worth about $240,000. Siemens Fonds Invest GmbH lifted its stake in shares of AutoZone by 630.1% during the fourth quarter. Siemens Fonds Invest GmbH now owns 1,577 shares of the company’s stock worth $5,050,000 after buying an additional 1,361 shares during the period. Menard Financial Group LLC acquired a new stake in shares of AutoZone during the fourth quarter worth $157,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in AutoZone during the fourth quarter valued at $95,480,000. Finally, B. Riley Wealth Advisors Inc. lifted its position in AutoZone by 1.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 1,219 shares of the company’s stock valued at $3,903,000 after purchasing an additional 13 shares during the period. Institutional investors own 92.74% of the company’s stock.

AutoZone Company Profile

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.