AutoZone, Inc. (NYSE:AZO) Receives $3,651.91 Average Price Target from Analysts

AutoZone, Inc. (NYSE:AZO - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty-four analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, fifteen have assigned a buy recommendation and four have given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $3,651.91.

AZO has been the topic of several recent research reports. Barclays upped their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a research report on Thursday, January 9th. Citigroup upped their price objective on AutoZone from $3,500.00 to $3,900.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Roth Mkm upped their target price on AutoZone from $3,634.00 to $3,763.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Roth Capital set a $3,763.00 target price on AutoZone in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upped their target price on AutoZone from $3,775.00 to $3,830.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th.

Insiders Place Their Bets

In other news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares in the company, valued at approximately $177,500. This represents a 76.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total value of $482,810.88. Following the transaction, the senior vice president now owns 403 shares of the company's stock, valued at approximately $1,430,682.24. This represents a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,871 shares of company stock valued at $6,720,811 in the last three months. 2.10% of the stock is currently owned by insiders.

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Hedge Funds Weigh In On AutoZone

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in AutoZone by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company's stock valued at $1,326,545,000 after acquiring an additional 7,365 shares during the period. Proficio Capital Partners LLC boosted its holdings in AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after acquiring an additional 419,375 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in AutoZone by 5.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company's stock valued at $1,039,421,000 after acquiring an additional 17,518 shares during the period. Norges Bank purchased a new position in AutoZone during the 4th quarter valued at about $834,556,000. Finally, PineStone Asset Management Inc. boosted its holdings in AutoZone by 6.9% during the 4th quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company's stock valued at $683,867,000 after acquiring an additional 13,771 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Performance

NYSE AZO traded down $8.54 during trading hours on Tuesday, reaching $3,538.59. The stock had a trading volume of 158,430 shares, compared to its average volume of 127,195. The stock has a fifty day moving average of $3,395.79 and a 200 day moving average of $3,240.97. The stock has a market cap of $59.38 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. AutoZone has a 52-week low of $2,728.97 and a 52-week high of $3,704.43.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $3.98 billion. On average, equities research analysts forecast that AutoZone will post 152.94 EPS for the current year.

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.