AutoZone (NYSE:AZO) Price Target Lowered to $4,000.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group cut its price target on AutoZone from $4,400 to $4,000 but kept a buy rating, implying about 34% upside from the prior close.
• Other analysts also trimmed targets after AutoZone’s latest results, though the stock still carries a Moderate Buy consensus and an average price target of about $4,040.87.
• AutoZone reported Q3 EPS of $38.07, beating estimates, while revenue rose 8.4% year over year to $4.84 billion; however, the stock was under pressure and opened near its 52-week low around $2,986.

AutoZone (NYSE:AZO - Get Free Report) had its price target dropped by analysts at Jefferies Financial Group from $4,400.00 to $4,000.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's target price would suggest a potential upside of 33.94% from the stock's previous close.

A number of other analysts have also commented on AZO. Mizuho reduced their target price on AutoZone from $3,600.00 to $3,200.00 and set a "neutral" rating for the company in a report on Wednesday. BNP Paribas Exane lowered their price target on AutoZone from $4,478.00 to $3,979.00 and set an "outperform" rating on the stock in a report on Wednesday. Oppenheimer reaffirmed an "outperform" rating and set a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. Robert W. Baird decreased their target price on AutoZone from $3,900.00 to $3,600.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, UBS Group set a $4,800.00 target price on shares of AutoZone in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $4,040.87.

AutoZone Stock Down 1.4%

NYSE:AZO opened at $2,986.42 on Wednesday. The company's 50 day moving average price is $3,438.99 and its 200-day moving average price is $3,575.13. AutoZone has a 52 week low of $2,986.01 and a 52 week high of $4,388.11. The stock has a market cap of $49.22 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.58 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 for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter last year, the firm earned $35.36 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that AutoZone will post 149.35 earnings per share for the current year.

Insider Activity at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone 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 sale, the director owned 4,837 shares of the company's stock, valued at $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AZO. Turning Point Benefit Group Inc. purchased a new stake in shares of AutoZone during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. purchased a new position in shares of AutoZone in the third quarter worth approximately $26,000. Torren Management LLC bought a new stake in AutoZone during the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors LLC grew its position in AutoZone by 100.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock valued at $28,000 after buying an additional 4 shares during the period. Finally, MCF Advisors LLC increased its holdings in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company's stock valued at $31,000 after buying an additional 3 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone News Roundup

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone posted Q3 sales growth of 8.4% year over year and beat EPS estimates, with commercial sales rising 10.4% and management highlighting stronger share gains and faster store expansion. AutoZone Q3 Earnings Beat Estimates on Strong Sales Growth
• Positive Sentiment: Management said late-quarter softness was largely weather-related noise and emphasized ongoing commercial momentum, which supports the long-term growth story. AZO Q3 Earnings Call Puts Focus on Commercial Momentum
• Positive Sentiment: Wall Street analysts remain broadly constructive on AZO, with several firms reiterating buy-equivalent ratings even as they trimmed price targets after the earnings release. Are Wall Street Analysts Predicting AutoZone Stock Will Climb or Sink?
• Neutral Sentiment: AutoZone is still on track to open 355 to 365 new locations this fiscal year, which supports growth but also requires continued capital spending. AutoZone Fell Short of Wall Street's Expectations. Should You Buy the Dip?
• Negative Sentiment: The stock fell sharply after AutoZone’s revenue came in slightly below estimates, and investors also reacted to margin pressure and a 57-basis-point decline in gross margin. AutoZone shares slide on quarterly revenue miss
• Negative Sentiment: International growth slowed and remained challenged, adding to concerns that the quarter’s solid earnings quality may not be fully translating into higher profitability. AutoZone shares slide on quarterly revenue miss
• Negative Sentiment: Multiple brokers lowered price targets after the print, which can reinforce bearish near-term sentiment even though most still kept bullish ratings. AutoZone Analysts Slash Their Forecasts Following Q3 Results

About AutoZone

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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