AutoZone (NYSE:AZO - Get Free Report) had its price objective increased by stock analysts at Wells Fargo & Company from $3,750.00 to $3,850.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 6.35% from the stock's current price.
Other analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an "overweight" rating in a research note on Wednesday. Argus lowered shares of AutoZone from a "buy" rating to a "hold" rating in a research note on Wednesday. BMO Capital Markets upped their price target on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an "outperform" rating in a research note on Wednesday. Bank of America upped their price target on shares of AutoZone from $3,600.00 to $3,700.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Mizuho upped their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an "outperform" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $3,646.62.
Get Our Latest Analysis on AutoZone
AutoZone Stock Up 0.1 %
NYSE AZO traded up $4.49 on Wednesday, hitting $3,620.28. The stock had a trading volume of 198,834 shares, compared to its average volume of 115,171. AutoZone has a one year low of $2,728.97 and a one year high of $3,636.96. The stock has a market cap of $60.76 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.86 and a beta of 0.71. The company's 50-day moving average is $3,365.96 and its two-hundred day moving average is $3,229.56.
AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. On average, sell-side analysts anticipate that AutoZone will post 152.94 earnings per share for the current year.
Insider Buying and Selling at AutoZone
In other news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the transaction, the senior vice president now owns 50 shares in the company, valued at $177,500. This represents a 76.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of AZO. Proficio Capital Partners LLC boosted its holdings in shares of AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock worth $1,343,117,000 after buying an additional 419,375 shares during the period. Norges Bank bought a new stake in AutoZone in the 4th quarter valued at $834,556,000. Strategic Financial Concepts LLC bought a new stake in AutoZone in the 4th quarter valued at $471,629,000. Wealthfront Advisers LLC boosted its holdings in AutoZone by 6,083.9% in the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock valued at $290,281,000 after purchasing an additional 89,190 shares during the period. Finally, Barclays PLC boosted its holdings in AutoZone by 82.6% in the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock valued at $545,033,000 after purchasing an additional 77,015 shares during the period. Institutional investors and hedge funds own 92.74% of the company's stock.
AutoZone Company Profile
(
Get Free Report)
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.
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