AutoZone, Inc. (NYSE:AZO) Receives $4,312.13 Consensus Price Target from Brokerages

AutoZone, Inc. (NYSE:AZO) has been given an average rating of “Moderate Buy” by the twenty-eight brokerages that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $4,312.1250.

A number of analysts have recently issued reports on AZO shares. Mizuho increased their price target on shares of AutoZone from $3,550.00 to $3,600.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. DA Davidson set a $4,300.00 price objective on shares of AutoZone in a research report on Thursday, March 5th. Truist Financial cut their target price on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Evercore lifted their target price on shares of AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Finally, The Goldman Sachs Group boosted their price target on shares of AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a report on Wednesday, March 4th.

AutoZone Stock Up 0.2%

Shares of AutoZone stock opened at $3,578.99 on Wednesday. AutoZone has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The stock has a market cap of $58.98 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.83 and a beta of 0.41. The business has a fifty day simple moving average of $3,573.58 and a 200-day simple moving average of $3,660.23.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating the consensus estimate of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the firm earned $28.29 earnings per share. AutoZone’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that AutoZone will post 152.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the transaction, the vice president directly owned 2,627 shares of the company’s stock, valued at $9,719,900. This represents a 69.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AutoZone

Hedge funds have recently added to or reduced their stakes in the company. AssuredPartners Investment Advisors LLC grew its position in AutoZone by 2.5% in the third quarter. AssuredPartners Investment Advisors LLC now owns 125 shares of the company’s stock worth $536,000 after acquiring an additional 3 shares in the last quarter. Obermeyer Wealth Partners raised its holdings in shares of AutoZone by 4.7% during the 3rd quarter. Obermeyer Wealth Partners now owns 67 shares of the company’s stock valued at $287,000 after purchasing an additional 3 shares in the last quarter. Covestor Ltd lifted its stake in shares of AutoZone by 5.5% in the 3rd quarter. Covestor Ltd now owns 58 shares of the company’s stock valued at $250,000 after purchasing an additional 3 shares during the last quarter. SYM FINANCIAL Corp lifted its stake in shares of AutoZone by 3.6% in the 3rd quarter. SYM FINANCIAL Corp now owns 86 shares of the company’s stock valued at $369,000 after purchasing an additional 3 shares during the last quarter. Finally, Camden National Bank boosted its holdings in AutoZone by 3.6% in the third quarter. Camden National Bank now owns 86 shares of the company’s stock worth $369,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.