BNP Paribas Exane Lowers AutoZone (NYSE:AZO) Price Target to $3,979.00

Key Points

• BNP Paribas Exane cut AutoZone’s price target from $4,478 to $3,979, but kept an outperform rating. The new target still implies about 33% upside from the current share price.
• Other analysts remain mostly constructive on the stock, even though several have trimmed their price targets after recent results. MarketBeat says AutoZone now has a consensus rating of Moderate Buy with an average target of $4,040.87.
• AutoZone recently reported quarterly EPS of $38.07, beating estimates, while revenue rose 8.4% year over year to $4.84 billion. The shares were trading near $2,986, close to their 52-week low.

AutoZone (NYSE:AZO - Get Free Report) had its price objective reduced by investment analysts at BNP Paribas Exane from $4,478.00 to $3,979.00 in a report released on Wednesday,MarketScreener reports. The brokerage presently has an "outperform" rating on the stock. BNP Paribas Exane's target price suggests a potential upside of 33.24% from the stock's current price.

Several other equities analysts have also commented on AZO. Barclays raised their target price on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an "overweight" rating in a report on Wednesday, March 4th. Morgan Stanley reduced their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an "overweight" rating on the stock in a research report on Wednesday. Argus raised shares of AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 price objective on the stock in a research note on Monday, March 9th. Citigroup lowered their price objective on shares of AutoZone from $4,300.00 to $3,700.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, UBS Group set a $4,800.00 target price on AutoZone in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $4,040.87.

AutoZone Stock Performance

AZO opened at $2,986.42 on Wednesday. AutoZone has a 52-week low of $2,986.01 and a 52-week high of $4,388.11. The firm has a market cap of $49.22 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 1.58 and a beta of 0.43. The business's fifty day moving average is $3,438.99 and its 200-day moving average is $3,575.13.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts' consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the firm earned $35.36 earnings per share. AutoZone's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts predict that AutoZone will post 149.35 earnings per share 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.

Institutional Trading of AutoZone

A number of hedge funds have recently made changes to their positions in AZO. Turning Point Benefit Group Inc. bought a new position in AutoZone in the 3rd quarter valued at approximately $25,000. Raleigh Capital Management Inc. bought a new stake in AutoZone during the 3rd quarter worth approximately $26,000. Torren Management LLC bought a new stake in AutoZone during the 4th quarter worth approximately $27,000. Transamerica Financial Advisors LLC increased its position in AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock valued at $28,000 after acquiring an additional 4 shares during the period. Finally, MCF Advisors LLC increased its position in AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company's stock valued at $31,000 after acquiring an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone News Summary

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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