AutoZone (NYSE:AZO) Price Target Lowered to $3,275.00 at Evercore ISI

AutoZone (NYSE:AZO) had its target price decreased by Evercore ISI from $3,278.00 to $3,275.00 in a report issued on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other brokerages have also commented on AZO. StockNews.com lowered AutoZone from a buy rating to a hold rating in a research report on Friday, April 12th. Wolfe Research lowered their price objective on AutoZone from $3,150.00 to $3,000.00 and set an outperform rating for the company in a research report on Wednesday, May 22nd. Barclays cut their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an overweight rating on the stock in a research report on Thursday, May 23rd. Truist Financial lowered their price target on shares of AutoZone from $3,523.00 to $3,394.00 and set a buy rating for the company in a research report on Wednesday, May 22nd. Finally, Wedbush cut their price objective on shares of AutoZone from $3,400.00 to $3,200.00 and set an outperform rating on the stock in a report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $3,112.71.

AutoZone Stock Performance

Shares of AZO stock opened at $2,867.32 on Tuesday. AutoZone has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The stock has a market capitalization of $48.97 billion, a PE ratio of 19.85, a PEG ratio of 1.49 and a beta of 0.71. The stock’s fifty day moving average is $2,891.70 and its 200-day moving average is $2,866.94.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating the consensus estimate of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter last year, the company posted $34.12 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, analysts forecast that AutoZone will post 151.57 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In related news, VP Jenna M. Bedsole bought 36 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the acquisition, the vice president now owns 36 shares of the company’s stock, valued at approximately $99,255.60. The purchase was disclosed in a filing with the SEC, which is available at this link. 2.50% of the stock is owned by insiders.

Institutional Trading of AutoZone

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC acquired a new position in AutoZone during the first quarter worth $32,000. Riverview Trust Co bought a new stake in AutoZone during the 1st quarter worth about $41,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of AutoZone during the 4th quarter worth about $54,000. Private Wealth Management Group LLC bought a new position in shares of AutoZone in the 4th quarter valued at about $54,000. Finally, Quarry LP acquired a new stake in shares of AutoZone in the fourth quarter valued at about $70,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

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.