AutoZone (NYSE:AZO – Get Free Report) had its price objective boosted by stock analysts at Evercore ISI from $3,400.00 to $3,450.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s target price points to a potential upside of 3.12% from the company’s current price.
AZO has been the topic of a number of other reports. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. Wells Fargo & Company raised their price target on AutoZone from $3,400.00 to $3,450.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. BNP Paribas raised AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Mizuho raised their target price on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3,339.25.
View Our Latest Analysis on AZO
AutoZone Stock Performance
AutoZone (NYSE:AZO – Get Free Report) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the business posted $32.55 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts forecast that AutoZone will post 155.79 earnings per share for the current fiscal year.
Insider Activity
In related news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock worth $46,225,660 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.
Institutional Investors Weigh In On AutoZone
Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in shares of AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares in the last quarter. Verde Capital Management bought a new stake in AutoZone during the 3rd quarter worth about $1,137,000. Mizuho Securities USA LLC boosted its stake in shares of AutoZone by 592.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock worth $29,012,000 after buying an additional 7,879 shares during the last quarter. Swedbank AB grew its holdings in shares of AutoZone by 5.6% in the 2nd quarter. Swedbank AB now owns 16,524 shares of the company’s stock valued at $48,979,000 after acquiring an additional 869 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of AutoZone by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 104,665 shares of the company’s stock valued at $329,699,000 after acquiring an additional 466 shares during the last quarter. Institutional investors 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.
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