AutoZone (NYSE:AZO) Price Target Raised to $3,800.00

AutoZone (NYSE:AZO - Get Free Report) had its price objective lifted by investment analysts at TD Cowen from $3,450.00 to $3,800.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price objective would suggest a potential upside of 13.43% from the stock's current price.

A number of other research analysts also recently weighed in on AZO. Guggenheim upped their target price on AutoZone from $3,350.00 to $3,750.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. BNP Paribas upgraded AutoZone to a "strong-buy" rating in a report on Wednesday, September 25th. Roth Capital raised shares of AutoZone to a "strong-buy" rating in a research report on Tuesday, October 15th. The Goldman Sachs Group downgraded AutoZone from a "buy" rating to a "sell" rating and dropped their target price for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Finally, Mizuho boosted their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $3,384.89.

AutoZone Trading Down 0.6 %

Shares of NYSE AZO traded down $20.14 during midday trading on Monday, hitting $3,350.13. 134,991 shares of the company's stock were exchanged, compared to its average volume of 139,483. The business's fifty day moving average price is $3,155.07 and its two-hundred day moving average price is $3,069.24. The company has a market cap of $56.63 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.73 and a beta of 0.71. AutoZone has a 12-month low of $2,510.00 and a 12-month high of $3,416.71.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $33.69 by ($1.17). The firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. AutoZone's revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $32.55 EPS. Equities analysts expect that AutoZone will post 154.29 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman William C. Rhodes III sold 300 shares of the company's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the transaction, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock worth $46,225,660 in the last 90 days. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On AutoZone

Several institutional investors and hedge funds have recently added to or reduced their stakes in AZO. Lord Abbett & CO. LLC lifted its holdings in AutoZone by 108.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 21,201 shares of the company's stock worth $66,784,000 after purchasing an additional 11,037 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of AutoZone in the 3rd quarter valued at approximately $2,208,000. Franklin Resources Inc. increased its holdings in AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company's stock worth $141,717,000 after purchasing an additional 6,898 shares in the last quarter. Asset Advisors Investment Management LLC boosted its position in AutoZone by 44.9% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 1,678 shares of the company's stock worth $5,286,000 after buying an additional 520 shares during the period. Finally, Tidal Investments LLC lifted its holdings in AutoZone by 38.6% during the 3rd quarter. Tidal Investments LLC now owns 1,192 shares of the company's stock worth $3,755,000 after buying an additional 332 shares during the period. 92.74% of the stock is owned by institutional investors.

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.