AutoZone (NYSE:AZO) Given New $4,700.00 Price Target at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn has increased AutoZone's price target from $4,300 to $4,700, indicating a potential upside of 15.73% from its current price.
• Despite a mixed performance, AutoZone reported earnings per share of $48.71, missing analysts' expectations of $50.52, with quarterly revenue at $6.24 billion.
• Institutional investors own approximately 92.74% of AutoZone's stock, with several firms recently increasing their holdings in the company.

AutoZone (NYSE:AZO - Get Free Report) had its target price increased by equities research analysts at Rothschild & Co Redburn from $4,300.00 to $4,700.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm presently has a "buy" rating on the stock. Rothschild & Co Redburn's price target indicates a potential upside of 15.73% from the stock's current price.

A number of other equities research analysts have also recently commented on AZO. The Goldman Sachs Group increased their price target on AutoZone from $3,894.00 to $4,090.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. raised their target price on AutoZone from $4,200.00 to $4,850.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Wolfe Research started coverage on AutoZone in a report on Thursday, September 18th. They set an "outperform" rating and a $4,741.00 target price on the stock. UBS Group dropped their target price on AutoZone from $4,925.00 to $4,800.00 and set a "buy" rating on the stock in a report on Wednesday, September 24th. Finally, Cowen reaffirmed a "buy" rating on shares of AutoZone in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $4,544.68.

AutoZone Stock Down 0.6%

AutoZone stock opened at $4,061.25 on Tuesday. The business has a 50-day simple moving average of $4,137.72 and a two-hundred day simple moving average of $3,850.01. The company has a market cap of $68.15 billion, a P/E ratio of 28.10, a P/E/G ratio of 1.96 and a beta of 0.40. AutoZone has a 52-week low of $2,980.10 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts' consensus estimates of $50.52 by ($1.81). The company had revenue of $6.24 billion for the quarter, compared to analysts' expectations of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $51.58 earnings per share. Research analysts anticipate that AutoZone will post 152.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the sale, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the business's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the sale, the vice president owned 1,244 shares in the company, valued at $5,194,570.80. This represents a 69.69% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On AutoZone

Several institutional investors and hedge funds have recently modified their holdings of the company. Wealthcare Advisory Partners LLC increased its stake in AutoZone by 2.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock valued at $538,000 after buying an additional 3 shares during the last quarter. Focus Financial Network Inc. grew its position in shares of AutoZone by 2.9% during the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock valued at $400,000 after acquiring an additional 3 shares during the period. Blue Trust Inc. grew its position in shares of AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after acquiring an additional 3 shares during the period. Rappaport Reiches Capital Management LLC grew its position in shares of AutoZone by 4.8% during the 1st quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock valued at $252,000 after acquiring an additional 3 shares during the period. Finally, Tradewinds Capital Management LLC grew its position in shares of AutoZone by 30.0% during the 1st quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock valued at $50,000 after acquiring an additional 3 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

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.

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