AutoZone (NYSE:AZO) Given New $4,200.00 Price Target at Raymond James

AutoZone (NYSE:AZO) had its target price hoisted by investment analysts at Raymond James from $4,000.00 to $4,200.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price objective suggests a potential upside of 10.93% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. Roth Mkm boosted their price target on AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Argus downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Truist Financial set a $3,995.00 price target on shares of AutoZone in a research note on Friday. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the company an “overweight” rating in a research report on Monday, May 19th. Finally, Mizuho boosted their price target on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, AutoZone currently has an average rating of “Buy” and an average target price of $4,042.62.

AutoZone Stock Performance

NYSE AZO traded up $90.49 during trading hours on Wednesday, reaching $3,786.15. The company’s stock had a trading volume of 83,853 shares, compared to its average volume of 129,337. The stock has a market cap of $63.54 billion, a PE ratio of 25.17, a PEG ratio of 1.86 and a beta of 0.44. The company’s 50-day moving average is $3,694.38 and its two-hundred day moving average is $3,457.18. AutoZone has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,916.81.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts’ consensus estimates of $37.07 by ($1.71). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.41 billion. During the same period last year, the business earned $36.69 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts expect that AutoZone will post 152.94 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In related news, VP Domingo Hurtado sold 4,800 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the sale, the vice president now owns 159 shares of the company’s stock, valued at $581,940. This trade represents a 96.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dennis W. Leriche sold 1,575 shares of AutoZone stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the completion of the sale, the vice president now owns 417 shares in the company, valued at approximately $1,501,200. This represents a 79.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,521 shares of company stock worth $42,177,331 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AlphaCore Capital LLC acquired a new position in shares of AutoZone during the first quarter worth approximately $27,000. Saudi Central Bank bought a new stake in AutoZone during the 1st quarter valued at $27,000. Headlands Technologies LLC acquired a new position in AutoZone during the 4th quarter worth $29,000. Flagship Wealth Advisors LLC bought a new position in shares of AutoZone in the fourth quarter worth $32,000. Finally, Harbour Investments Inc. grew its stake in shares of AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares in 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.