AutoZone (NYSE:AZO) Given New $4,023.00 Price Target at Roth Mkm

AutoZone (NYSE:AZO) had its price objective cut by investment analysts at Roth Mkm from $4,526.00 to $4,023.00 in a research report issued on Wednesday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s target price would indicate a potential upside of 31.74% from the company’s previous close.

Several other equities analysts have also commented on the stock. Mizuho dropped their price target on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup cut their price target on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a research note on Wednesday. BMO Capital Markets reduced their price target on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Oppenheimer restated an “outperform” rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target of $4,099.83.

AutoZone Price Performance

Shares of AZO stock traded down $46.36 during trading hours on Wednesday, reaching $3,053.75. 20,426 shares of the stock were exchanged, compared to its average volume of 191,540. The business’s fifty day moving average is $3,448.20 and its two-hundred day moving average is $3,579.65. The firm has a market capitalization of $50.32 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.74 and a beta of 0.43. AutoZone has a 12-month low of $3,001.00 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $35.36 EPS. As a group, equities research analysts predict that AutoZone will post 149.16 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

Institutional Trading of AutoZone

Several hedge funds and other institutional investors have recently made changes to their positions in AZO. Raleigh Capital Management Inc. acquired a new stake in shares of AutoZone in the 3rd quarter valued at approximately $26,000. Turning Point Benefit Group Inc. acquired a new position in AutoZone during the third quarter worth $25,000. Torren Management LLC purchased a new position in AutoZone in the fourth quarter worth $27,000. Transamerica Financial Advisors LLC raised its position in AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares in the last quarter. Finally, MCF Advisors LLC lifted its holdings in AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Trending Headlines about AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported fiscal Q3 EPS of $38.07, ahead of consensus estimates, and revenue rose 8.4% year over year to $4.84 billion, with same-store sales up 3.9% companywide and 4.1% domestically. Article Title
• Positive Sentiment: Domestic growth and commercial expansion remained strong, and management said the repair business stayed resilient even as consumers cut back elsewhere. Article Title
• Neutral Sentiment: AutoZone announced a partnership with Google Cloud, which could support longer-term operational and digital initiatives, but it was not the main driver of the stock move. Article Title
• Neutral Sentiment: Several analysts cut price targets after the report, including BMO Capital Markets to $4,000 and Robert W. Baird to $3,600, signaling some caution but still implying upside from recent levels. Article Title
• Negative Sentiment: The stock fell sharply after the company missed revenue expectations, and multiple reports pointed to margin pressure, including a non-cash LIFO impact, as well as softer international results. Article Title

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.