AutoZone (NYSE:AZO – Free Report) had its price target increased by Evercore ISI from $3,375.00 to $3,400.00 in a research report report published on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.
Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of AutoZone from $3,000.00 to $3,200.00 and gave the stock an overweight rating in a research report on Wednesday, February 28th. TheStreet cut AutoZone from a c rating to a d+ rating in a research note on Wednesday, December 20th. Wedbush upped their price target on AutoZone from $2,950.00 to $3,400.00 and gave the stock an outperform rating in a report on Wednesday, February 28th. Morgan Stanley boosted their price objective on AutoZone from $2,900.00 to $3,100.00 and gave the stock an overweight rating in a research report on Wednesday, February 28th. Finally, Raymond James raised shares of AutoZone from an outperform rating to a strong-buy rating and raised their target price for the company from $2,850.00 to $3,100.00 in a report on Wednesday, December 6th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $3,080.72.
Get Our Latest Stock Report on AutoZone
Shares of AutoZone stock traded up $20.66 on Tuesday, reaching $3,191.48. The company had a trading volume of 133,725 shares, compared to its average volume of 162,457. The firm has a market cap of $55.21 billion, a PE ratio of 22.47, a PEG ratio of 1.71 and a beta of 0.70. The firm’s 50 day moving average price is $2,891.93 and its two-hundred day moving average price is $2,691.78. AutoZone has a 52-week low of $2,277.88 and a 52-week high of $3,256.37.
AutoZone (NYSE:AZO – Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $24.64 earnings per share. As a group, sell-side analysts predict that AutoZone will post 151.33 EPS for the current year.
In other AutoZone news, COO Thomas B. Newbern sold 7,800 shares of AutoZone stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $2,551.62, for a total value of $19,902,636.00. Following the transaction, the chief operating officer now directly owns 2,519 shares in the company, valued at approximately $6,427,530.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Thomas B. Newbern sold 7,800 shares of AutoZone stock in a transaction on Friday, January 5th. The shares were sold at an average price of $2,551.62, for a total value of $19,902,636.00. Following the transaction, the chief operating officer now directly owns 2,519 shares in the company, valued at approximately $6,427,530.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George R. Mrkonic, Jr. sold 414 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $2,541.85, for a total transaction of $1,052,325.90. Following the transaction, the director now owns 3,470 shares of the company’s stock, valued at approximately $8,820,219.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,797 shares of company stock worth $81,010,974. Company insiders own 2.50% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in AutoZone by 232,194.6% during the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock worth $1,891,963,000 after acquiring an additional 731,413 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after purchasing an additional 698,613 shares during the period. Royal Bank of Canada lifted its position in shares of AutoZone by 368.0% during the 1st quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock valued at $841,242,000 after acquiring an additional 323,536 shares during the period. Norges Bank purchased a new stake in shares of AutoZone during the 4th quarter worth approximately $658,788,000. Finally, Wellington Management Group LLP raised its position in AutoZone by 111.4% during the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after acquiring an additional 176,623 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.
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.
Further Reading
- Five stocks we like better than AutoZone
- How to Invest in Small Cap Stocks
- 3 Stocks With Unusual Call Option Activity
- Insider Selling Explained: Can it Inform Your Investing Choices?
- Trump Media & Technology Group Soars on Market Debut
- What is a SEC Filing?
- 3 Stocks Insiders Are Buying That Analysts Love
Before you consider AutoZone, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and AutoZone wasn’t on the list.
While AutoZone currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
As Featured By:
345 N Reid Place, Suite 620, Sioux Falls, SD 57103
contact@marketbeat.com
(844) 978-6257
© MarketBeat Media, LLC® 2010-2024. All rights reserved.
© 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.
My Account –