Brokerages Set AutoZone, Inc. (NYSE:AZO) Price Target at $3,724.00

AutoZone, Inc. (NYSE:AZO) has been given an average rating of “Buy” by the twenty-four research firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $3,724.00.

A number of analysts have commented on the company. BMO Capital Markets raised their price objective on AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. Roth Capital set a $3,763.00 price target on shares of AutoZone in a research note on Wednesday, March 5th. Morgan Stanley increased their price objective on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Truist Financial lifted their target price on shares of AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Roth Mkm increased their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th.

Insider Transactions at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the business’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 completion of the transaction, the senior vice president now owns 50 shares in the company, valued at $177,500. The trade was a 76.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Richard Craig Smith sold 2,850 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the completion of the transaction, the vice president now owns 2,924 shares in the company, valued at $10,555,640. The trade was a 49.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,721 shares of company stock worth $24,609,331. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of AutoZone

Several institutional investors and hedge funds have recently added to or reduced their stakes in AZO. Franklin Resources Inc. grew its position in shares of AutoZone by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock worth $141,717,000 after buying an additional 6,898 shares during the period. Assenagon Asset Management S.A. grew its holdings in AutoZone by 29.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock worth $111,455,000 after acquiring an additional 7,922 shares during the period. Silverleafe Capital Partners LLC lifted its stake in shares of AutoZone by 1.0% in the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock valued at $8,460,000 after purchasing an additional 26 shares during the period. Pensionfund Sabic lifted its stake in shares of AutoZone by 51.3% in the 4th quarter. Pensionfund Sabic now owns 590 shares of the company’s stock valued at $1,889,000 after purchasing an additional 200 shares during the period. Finally, Fisher Asset Management LLC bought a new position in shares of AutoZone in the 4th quarter worth $228,000. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

NYSE:AZO opened at $3,479.55 on Friday. The stock has a market cap of $58.39 billion, a P/E ratio of 23.25, a PEG ratio of 1.86 and a beta of 0.54. The company has a fifty day moving average price of $3,533.54 and a 200 day moving average price of $3,308.09. AutoZone has a one year low of $2,728.97 and a one year high of $3,916.81.

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

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.