AutoZone (NYSE:AZO) Stock Price Expected to Rise, Evercore ISI Analyst Says

AutoZone (NYSE:AZO) had its target price hoisted by Evercore ISI from $3,525.00 to $3,700.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also weighed in on AZO. Guggenheim lifted their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial lifted their target price on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. BMO Capital Markets boosted their price target on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a research report on Wednesday. Mizuho boosted their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $3,646.62.

AutoZone Price Performance

AZO opened at $3,620.28 on Wednesday. The company has a 50 day simple moving average of $3,365.96 and a two-hundred day simple moving average of $3,229.56. AutoZone has a 1-year low of $2,728.97 and a 1-year high of $3,636.96. The firm has a market cap of $60.76 billion, a P/E ratio of 24.19, a PEG ratio of 1.86 and a beta of 0.71.

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

Insider Transactions at AutoZone

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the transaction, the senior vice president now directly owns 50 shares of the company’s stock, valued at $177,500. This represents a 76.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Several institutional investors and hedge funds have recently made changes to their positions in AZO. Geode Capital Management LLC grew its stake in shares of AutoZone by 1.8% in the third quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after purchasing an additional 7,365 shares in the last quarter. Proficio Capital Partners LLC increased its position in AutoZone by 482,040.2% in the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after purchasing an additional 419,375 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in AutoZone by 5.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company’s stock worth $1,039,421,000 after purchasing an additional 17,518 shares during the last quarter. Norges Bank acquired a new position in shares of AutoZone during the 4th quarter valued at about $834,556,000. Finally, PineStone Asset Management Inc. grew its holdings in AutoZone by 6.9% in the 4th quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock valued at $683,867,000 after buying an additional 13,771 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

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.