AutoZone, Inc. (NYSE:AZO) Receives $3,724.00 Average Price Target from Analysts

AutoZone, Inc. (NYSE:AZO - Get Free Report) has been given an average rating of "Buy" by the twenty-four brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and four have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $3,814.91.

Several equities analysts have recently issued reports on the company. Argus lowered AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Guggenheim upped their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. The Goldman Sachs Group raised AutoZone from a "sell" rating to a "neutral" rating and increased their price target for the company from $3,044.00 to $3,811.00 in a report on Tuesday, April 1st. Truist Financial raised their price target on AutoZone from $3,753.00 to $3,841.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Mizuho raised their price objective on AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th.

Insider Transactions at AutoZone

In other news, CEO Philip B. Daniele sold 2,000 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the completion of the transaction, the chief executive officer now directly owns 163 shares of the company's stock, valued at approximately $619,401.63. The trade was a 92.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares in the company, valued at $177,500. This trade represents a 76.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,521 shares of company stock worth $42,177,331. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AutoZone

Hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at about $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone during the 4th quarter valued at approximately $32,000. Harbour Investments Inc. grew its holdings in shares of AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after acquiring an additional 3 shares during the period. Cornerstone Planning Group LLC purchased a new position in AutoZone in the 1st quarter valued at approximately $44,000. Finally, Tradewinds Capital Management LLC increased its stake in shares of AutoZone by 30.0% during the 1st quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Stock Up 0.6 %

Shares of NYSE:AZO traded up $23.17 during trading on Wednesday, hitting $3,756.09. The stock had a trading volume of 77,261 shares, compared to its average volume of 131,931. AutoZone has a 12 month low of $2,728.97 and a 12 month high of $3,916.81. The company has a market capitalization of $63.03 billion, a PE ratio of 25.09, a PEG ratio of 1.86 and a beta of 0.54. The firm's fifty day moving average is $3,623.06 and its 200 day moving average is $3,379.37.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data 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). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $3.98 billion. Equities research analysts expect that AutoZone will post 152.94 EPS for the current fiscal 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.