AutoZone (NYSE:AZO) Price Target Raised to $4,850.00 at DA Davidson

AutoZone (NYSE:AZO - Get Free Report) had its price objective hoisted by DA Davidson from $4,192.00 to $4,850.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's price target indicates a potential upside of 28.11% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. UBS Group increased their price target on shares of AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a research report on Friday. Wedbush reissued an "outperform" rating and issued a $3,700.00 target price on shares of AutoZone in a research note on Wednesday, March 5th. Roth Capital set a $3,763.00 price target on AutoZone in a research report on Wednesday, March 5th. Roth Mkm increased their price objective on AutoZone from $3,634.00 to $3,763.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, Bank of America upgraded AutoZone from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $4,021.19.

AutoZone Stock Performance

NYSE:AZO traded up $90.22 during trading hours on Wednesday, reaching $3,785.88. The company's stock had a trading volume of 57,068 shares, compared to its average volume of 129,227. The firm has a 50-day simple moving average of $3,694.38 and a 200-day simple moving average of $3,457.18. AutoZone has a 1 year low of $2,728.97 and a 1 year high of $3,916.81. The firm has a market capitalization of $63.53 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.86 and a beta of 0.44.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). The company had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.41 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $36.69 earnings per share. Equities analysts anticipate that AutoZone will post 152.94 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP Domingo Hurtado sold 4,800 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the completion of the transaction, the vice president now directly owns 159 shares of the company's stock, valued at $581,940. This trade represents a 96.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of AutoZone stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the sale, the senior vice president now owns 50 shares of the company's stock, valued at approximately $177,500. This trade represents a 76.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,521 shares of company stock worth $42,177,331. Company insiders own 2.10% of the company's stock.

Institutional Trading of AutoZone

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in AutoZone by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company's stock worth $6,709,967,000 after acquiring an additional 13,643 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of AutoZone by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock worth $3,570,296,000 after purchasing an additional 65,368 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of AutoZone by 435,031.1% in the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after buying an additional 770,005 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of AutoZone by 482,040.2% in the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after acquiring an additional 419,375 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in AutoZone by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company's stock valued at $1,331,870,000 after purchasing an additional 24,701 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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