AutoZone (NYSE:AZO - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday.
Other research analysts also recently issued reports about the stock. Roth Mkm upped their target price on shares of AutoZone from $3,634.00 to $3,763.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Mizuho increased their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Wells Fargo & Company increased their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price target on shares of AutoZone from $3,775.00 to $3,830.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Finally, Truist Financial increased their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, AutoZone currently has a consensus rating of "Buy" and an average target price of $3,724.00.
Check Out Our Latest Stock Analysis on AZO
AutoZone Stock Performance
AutoZone stock traded down $29.35 during trading hours on Monday, reaching $3,733.25. 100,831 shares of the company's stock traded hands, compared to its average volume of 131,981. AutoZone has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,916.81. The firm has a market capitalization of $62.65 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 1.86 and a beta of 0.54. The firm's 50 day moving average is $3,609.63 and its 200-day moving average is $3,370.89.
AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. Analysts predict that AutoZone will post 152.94 EPS for the current year.
Insider Activity at AutoZone
In other news, SVP K. Michelle Borninkhof sold 136 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the transaction, the senior vice president now directly owns 403 shares in the company, valued at $1,430,682.24. The trade was a 25.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Philip B. Daniele sold 2,000 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were 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 owns 163 shares in the company, valued at approximately $619,401.63. This trade represents a 92.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,521 shares of company stock valued at $42,177,331. 2.10% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of AZO. GAMMA Investing LLC grew its stake in 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 during the last quarter. Proficio Capital Partners LLC grew its position in shares of AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock worth $1,343,117,000 after purchasing an additional 419,375 shares in the last quarter. Norges Bank acquired a new position in shares of AutoZone during the 4th quarter worth approximately $834,556,000. Strategic Financial Concepts LLC acquired a new position in shares of AutoZone during the 4th quarter worth approximately $471,629,000. Finally, Wealthfront Advisers LLC grew its position in shares of AutoZone by 6,083.9% during the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock worth $290,281,000 after purchasing an additional 89,190 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.
About AutoZone
(
Get Free Report)
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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