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AutoZone (NYSE:AZO) Given New $1,700.00 Price Target at UBS Group

Last updated on Friday, May 7, 2021 | 2021 MarketBeat

AutoZone (NYSE:AZO) had its price target hoisted by equities research analysts at UBS Group from $1,415.00 to $1,700.00 in a research report issued on Friday, The Fly reports. The firm presently has a "buy" rating on the stock. UBS Group's target price would suggest a potential upside of 14.18% from the company's previous close.

Other research analysts also recently issued reports about the stock. Stephens lifted their target price on shares of AutoZone from $1,350.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, March 26th. Morgan Stanley lifted their target price on shares of AutoZone from $1,505.00 to $1,640.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 31st. Bank of America reissued an "underperform" rating and issued a $1,390.00 target price on shares of AutoZone in a research report on Tuesday, April 27th. The Goldman Sachs Group lifted their target price on shares of AutoZone from $1,280.00 to $1,547.00 and gave the stock a "neutral" rating in a research report on Tuesday. They noted that the move was a valuation call. Finally, Raymond James lifted their target price on shares of AutoZone from $1,565.00 to $1,700.00 and gave the stock a "strong-buy" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of "Buy" and an average target price of $1,449.27.

Shares of AZO opened at $1,488.85 on Friday. The firm's 50 day moving average is $1,429.79 and its 200-day moving average is $1,245.10. The stock has a market capitalization of $32.81 billion, a P/E ratio of 19.51, a P/E/G ratio of 2.95 and a beta of 0.83. AutoZone has a 12-month low of $1,007.17 and a 12-month high of $1,524.98.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Monday, March 1st. The company reported $14.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $12.84 by $2.09. The company had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.64 billion. AutoZone had a net margin of 14.05% and a negative return on equity of 139.08%. The business's revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.39 EPS. On average, equities research analysts forecast that AutoZone will post 75 earnings per share for the current fiscal year.

In other news, VP Preston Frazer sold 740 shares of the business's stock in a transaction on Friday, March 19th. The shares were sold at an average price of $1,322.87, for a total value of $978,923.80. Following the completion of the sale, the vice president now directly owns 993 shares in the company, valued at $1,313,609.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William C. Rhodes III sold 11,250 shares of the business's stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $1,250.02, for a total transaction of $14,062,725.00. Insiders sold 27,673 shares of company stock valued at $35,119,737 over the last 90 days. 2.80% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its stake in AutoZone by 7.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 99,196 shares of the company's stock valued at $117,591,000 after purchasing an additional 6,594 shares during the last quarter. Cardan Capital Partners LLC raised its stake in AutoZone by 2.8% during the 1st quarter. Cardan Capital Partners LLC now owns 7,049 shares of the company's stock valued at $9,899,000 after purchasing an additional 190 shares during the last quarter. ING Groep NV raised its stake in AutoZone by 197.3% during the 4th quarter. ING Groep NV now owns 1,537 shares of the company's stock valued at $1,822,000 after purchasing an additional 1,020 shares during the last quarter. HighTower Advisors LLC raised its stake in AutoZone by 122.3% during the 4th quarter. HighTower Advisors LLC now owns 7,325 shares of the company's stock valued at $8,678,000 after purchasing an additional 4,030 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in AutoZone by 18.0% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,034 shares of the company's stock valued at $1,226,000 after purchasing an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 91.56% of the company's stock.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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The Fly

Analyst Recommendations for AutoZone (NYSE:AZO)

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