Argus Boosts AutoZone (NYSE:AZO) Price Target to $3,678.00

AutoZone (NYSE:AZO - Get Free Report) had its target price increased by equities researchers at Argus from $3,560.00 to $3,678.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Argus' price objective suggests a potential upside of 13.17% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. Roth Mkm reaffirmed a "buy" rating and set a $3,634.00 price objective on shares of AutoZone in a research report on Wednesday, October 16th. Mizuho raised their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. UBS Group boosted their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. TD Cowen raised their target price on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group lowered shares of AutoZone from a "buy" rating to a "sell" rating and cut their price target for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, AutoZone currently has an average rating of "Moderate Buy" and a consensus target price of $3,400.32.

AutoZone Price Performance

Shares of NYSE:AZO traded up $48.00 during trading hours on Thursday, hitting $3,250.00. The company's stock had a trading volume of 105,338 shares, compared to its average volume of 139,031. The firm's fifty day moving average price is $3,185.10 and its 200 day moving average price is $3,109.99. AutoZone has a 52 week low of $2,510.00 and a 52 week high of $3,416.71. The company has a market capitalization of $54.54 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts' consensus estimates of $33.69 by ($1.17). The business 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%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $32.55 EPS. On average, equities research analysts predict that AutoZone will post 154.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman William C. Rhodes III sold 13,000 shares of the company's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new position in shares of AutoZone during the 3rd quarter valued at approximately $36,000. Meeder Asset Management Inc. increased its holdings in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company's stock valued at $44,000 after buying an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone in the third quarter worth about $47,000. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone during the 3rd quarter worth about $47,000. Finally, McIlrath & Eck LLC grew its position in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after acquiring an additional 4 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Company Profile

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.