AutoZone (NYSE:AZO) Price Target Lowered to $3,700.00 at TD Cowen

Key Points

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AutoZone (NYSE:AZO - Get Free Report) had its target price decreased by analysts at TD Cowen from $4,250.00 to $3,700.00 in a report released on Wednesday, Marketbeat Ratings reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's target price indicates a potential upside of 21.16% from the company's previous close.

A number of other research firms also recently issued reports on AZO. The Goldman Sachs Group boosted their price objective on shares of AutoZone from $4,274.00 to $4,345.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Roth Mkm dropped their price target on shares of AutoZone from $4,650.00 to $4,526.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Truist Financial cut their price target on AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Citigroup lowered their price objective on AutoZone from $4,300.00 to $3,700.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Mizuho dropped their price objective on AutoZone from $3,600.00 to $3,200.00 and set a "neutral" rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4,099.83.

AutoZone Stock Down 1.5%

Shares of AZO stock traded down $46.36 during trading on Wednesday, reaching $3,053.75. 20,426 shares of the company's stock were exchanged, compared to its average volume of 191,540. AutoZone has a twelve month low of $3,001.00 and a twelve month high of $4,388.11. The firm's fifty day moving average price is $3,448.20 and its 200-day moving average price is $3,579.65. The stock has a market capitalization of $50.32 billion, a PE ratio of 21.39, a PEG ratio of 1.74 and a beta of 0.43.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $35.36 EPS. As a group, analysts anticipate that AutoZone will post 149.16 EPS for the current fiscal year.

Insider Activity

In other news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On AutoZone

Several large investors have recently modified their holdings of the business. Norges Bank bought a new position in AutoZone during the 4th quarter worth $939,205,000. Morgan Stanley grew its position in shares of AutoZone by 17.8% in the 4th quarter. Morgan Stanley now owns 492,794 shares of the company's stock valued at $1,671,323,000 after buying an additional 74,555 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of AutoZone by 387.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company's stock valued at $263,832,000 after buying an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of AutoZone by 39.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company's stock worth $584,730,000 after acquiring an additional 50,071 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of AutoZone by 80.8% in the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company's stock worth $432,059,000 after acquiring an additional 45,212 shares during the period. Institutional investors own 92.74% of the company's stock.

AutoZone News Summary

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported fiscal Q3 EPS of $38.07, ahead of consensus estimates, and revenue rose 8.4% year over year to $4.84 billion, with same-store sales up 3.9% companywide and 4.1% domestically. Article Title
• Positive Sentiment: Domestic growth and commercial expansion remained strong, and management said the repair business stayed resilient even as consumers cut back elsewhere. Article Title
• Neutral Sentiment: AutoZone announced a partnership with Google Cloud, which could support longer-term operational and digital initiatives, but it was not the main driver of the stock move. Article Title
• Neutral Sentiment: Several analysts cut price targets after the report, including BMO Capital Markets to $4,000 and Robert W. Baird to $3,600, signaling some caution but still implying upside from recent levels. Article Title
• Negative Sentiment: The stock fell sharply after the company missed revenue expectations, and multiple reports pointed to margin pressure, including a non-cash LIFO impact, as well as softer international results. Article Title

AutoZone Company Profile

AutoZone, Inc NYSE: AZO is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.

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