Research analysts at MKM Partners began coverage on shares of AutoZone (NYSE:AZO - Get Rating) in a research report issued on Thursday, The Fly reports. The firm set a "buy" rating on the stock.
A number of other analysts have also recently commented on AZO. Stephens lifted their target price on shares of AutoZone from $2,195.00 to $2,285.00 and gave the stock an "overweight" rating in a research note on Thursday, May 26th. StockNews.com initiated coverage on shares of AutoZone in a research note on Thursday, March 31st. They issued a "buy" rating for the company. JPMorgan Chase & Co. lifted their price objective on shares of AutoZone from $2,175.00 to $2,200.00 and gave the company an "overweight" rating in a research note on Wednesday, March 2nd. Raymond James lifted their price objective on shares of AutoZone from $2,100.00 to $2,400.00 and gave the company an "outperform" rating in a research note on Tuesday, April 19th. Finally, Truist Financial decreased their price objective on shares of AutoZone from $2,215.00 to $2,174.00 and set a "buy" rating for the company in a research note on Wednesday, May 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $2,142.44.
Shares of AutoZone stock opened at $2,071.62 on Thursday. The firm's 50 day moving average price is $2,038.44 and its 200-day moving average price is $2,001.94. AutoZone has a 52-week low of $1,418.26 and a 52-week high of $2,267.40. The company has a market cap of $40.38 billion, a P/E ratio of 18.38, a PEG ratio of 1.53 and a beta of 0.90.
AutoZone (NYSE:AZO - Get Rating) last released its earnings results on Tuesday, May 24th. The company reported $29.03 EPS for the quarter, topping analysts' consensus estimates of $25.70 by $3.33. The company had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.71 billion. AutoZone had a net margin of 15.21% and a negative return on equity of 92.10%. AutoZone's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business earned $26.48 EPS. As a group, equities research analysts expect that AutoZone will post 115.07 earnings per share for the current fiscal year.
In related news, EVP Preston Frazer sold 1,500 shares of the business's stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $2,220.00, for a total value of $3,330,000.00. Following the completion of the sale, the executive vice president now owns 783 shares of the company's stock, valued at approximately $1,738,260. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Albert Saltiel sold 2,752 shares of the business's stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $2,154.70, for a total transaction of $5,929,734.40. Following the completion of the sale, the vice president now directly owns 323 shares of the company's stock, valued at approximately $695,968.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,732 shares of company stock valued at $10,277,334. Company insiders own 2.60% of the company's stock.
Institutional investors have recently added to or reduced their stakes in the company. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of AutoZone during the fourth quarter worth $27,000. Riverview Trust Co purchased a new stake in shares of AutoZone during the first quarter worth $27,000. Allworth Financial LP purchased a new stake in shares of AutoZone during the fourth quarter worth $29,000. Tcwp LLC purchased a new stake in shares of AutoZone during the first quarter worth $30,000. Finally, CVA Family Office LLC purchased a new stake in shares of AutoZone during the fourth quarter worth $31,000. 95.97% of the stock is owned by institutional investors and hedge funds.
About AutoZone (Get Rating)
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, as well as tire repairs.
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