AutoZone (NYSE:AZO) Given New $3,278.00 Price Target at Evercore ISI

AutoZone (NYSE:AZO) had its target price raised by Evercore ISI from $3,250.00 to $3,278.00 in a research note released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Citigroup lowered their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a buy rating on the stock in a report on Wednesday, May 22nd. DA Davidson upped their target price on shares of AutoZone from $2,770.00 to $3,025.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Morgan Stanley lowered their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an overweight rating on the stock in a report on Wednesday, May 22nd. UBS Group lowered their target price on shares of AutoZone from $3,465.00 to $3,340.00 and set a buy rating on the stock in a report on Wednesday, May 22nd. Finally, Truist Financial lowered their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a buy rating on the stock in a report on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $3,105.88.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,008.23 on Thursday. The firm has a market capitalization of $51.38 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71. The company’s fifty day moving average price is $2,892.48 and its two-hundred day moving average price is $2,850.41. AutoZone has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $35.67 by $1.02. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $34.12 EPS. Analysts predict that AutoZone will post 151.57 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the transaction, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Jenna M. Bedsole purchased 36 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the transaction, the vice president now directly owns 36 shares of the company’s stock, valued at approximately $99,255.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares in the company, valued at $48,992,208.54. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

A number of hedge funds have recently modified their holdings of AZO. International Assets Investment Management LLC raised its position in shares of AutoZone by 232,194.6% in the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after acquiring an additional 731,413 shares during the period. Norges Bank bought a new stake in AutoZone during the 4th quarter worth approximately $678,350,000. Wellington Management Group LLP increased its stake in AutoZone by 111.4% during the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after purchasing an additional 176,623 shares in the last quarter. Captrust Financial Advisors increased its stake in AutoZone by 564.2% during the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after purchasing an additional 129,193 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in AutoZone by 106.7% during the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after purchasing an additional 60,852 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

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.