Roth Mkm Lowers AutoZone (NYSE:AZO) Price Target to $4,023.00

Key Points

• Roth Mkm cut its price target on AutoZone from $4,526 to $4,023 while keeping a buy rating, implying about 31.7% upside from the prior close.
• Other analysts have also adjusted their views, with JPMorgan and BMO lowering targets and the Street consensus currently at a Moderate Buy with an average target of $4,099.83.
• AutoZone recently posted better-than-expected earnings of $38.07 per share and revenue growth of 8.4% year over year, even though the stock traded lower and some analysts flagged caution on valuation and margins.

AutoZone (NYSE:AZO - Get Free Report) had its target price dropped by research analysts at Roth Mkm from $4,526.00 to $4,023.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a "buy" rating on the stock. Roth Mkm's target price suggests a potential upside of 31.74% from the company's previous close.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of AutoZone from $4,300.00 to $3,850.00 and set an "overweight" rating for the company in a research note on Wednesday. Oppenheimer reiterated an "outperform" rating and set a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. BMO Capital Markets reduced their price objective on shares of AutoZone from $4,300.00 to $4,000.00 and set an "outperform" rating for the company 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 report on Monday, March 9th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of AutoZone in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, AutoZone currently has an average rating of "Moderate Buy" and a consensus target price of $4,099.83.

AutoZone Stock Performance

NYSE:AZO traded down $46.36 during mid-day trading on Wednesday, hitting $3,053.75. 20,426 shares of the company's stock traded hands, compared to its average volume of 191,540. The company has a fifty day moving average of $3,448.20 and a 200 day moving average of $3,579.65. AutoZone has a twelve month low of $3,001.00 and a twelve month high of $4,388.11. The company has a market capitalization of $50.32 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.74 and a beta of 0.43.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the business posted $35.36 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that AutoZone will post 149.16 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AZO. Groupama Asset Managment raised its stake in AutoZone by 16.8% during the first quarter. Groupama Asset Managment now owns 153 shares of the company's stock worth $517,000 after purchasing an additional 22 shares during the period. Segall Bryant & Hamill LLC purchased a new position in AutoZone during the first quarter worth about $14,048,000. Wellington Grp LLC lifted its holdings in shares of AutoZone by 2.4% in the 1st quarter. Wellington Grp LLC now owns 600 shares of the company's stock worth $2,027,000 after acquiring an additional 14 shares during the last quarter. CTC Alternative Strategies Ltd. raised its position in AutoZone by 229.5% in the first quarter. CTC Alternative Strategies Ltd. now owns 257 shares of the company's stock valued at $868,000 after purchasing an additional 179 shares during the period. Finally, FinArc Investments Inc. purchased a new position in shares of AutoZone during the first quarter worth $2,908,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone News Summary

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported fiscal Q3 EPS of $38.07, ahead of consensus estimates, and revenue rose 8.4% year over year to $4.84 billion, with same-store sales up 3.9% companywide and 4.1% domestically. Article Title
• Positive Sentiment: Domestic growth and commercial expansion remained strong, and management said the repair business stayed resilient even as consumers cut back elsewhere. Article Title
• Neutral Sentiment: AutoZone announced a partnership with Google Cloud, which could support longer-term operational and digital initiatives, but it was not the main driver of the stock move. Article Title
• Neutral Sentiment: Several analysts cut price targets after the report, including BMO Capital Markets to $4,000 and Robert W. Baird to $3,600, signaling some caution but still implying upside from recent levels. Article Title
• Negative Sentiment: The stock fell sharply after the company missed revenue expectations, and multiple reports pointed to margin pressure, including a non-cash LIFO impact, as well as softer international results. Article Title

AutoZone Company Profile

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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