UBS Group Forecasts Strong Price Appreciation for AutoZone (NYSE:AZO) Stock

Key Points

• UBS Group has increased its price target for AutoZone (NYSE:AZO) stock from $4,260.00 to $4,925.00, indicating a potential upside of 12.97% from its current price.
• Currently, AutoZone holds a consensus rating of "Buy" from analysts, with a target price averaging $4,229.38, and three analysts have given the stock a Strong Buy rating.
• AutoZone's stock reached $4,359.50 during mid-day trading, with a market cap of $73.15 billion and notable insider selling activity recently reported.

AutoZone (NYSE:AZO - Get Free Report) had its price objective upped by research analysts at UBS Group from $4,260.00 to $4,925.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 12.97% from the stock's current price.

Several other research analysts have also issued reports on the stock. The Goldman Sachs Group set a $3,811.00 price target on shares of AutoZone in a research report on Friday, May 23rd. Roth Capital set a $4,135.00 price objective on AutoZone and gave the company a "buy" rating in a research note on Monday, June 2nd. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. Wells Fargo & Company set a $4,200.00 target price on AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, Guggenheim boosted their price target on AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, AutoZone presently has a consensus rating of "Buy" and a consensus target price of $4,229.38.

AutoZone Stock Performance

Shares of AZO stock traded up $106.60 during mid-day trading on Thursday, reaching $4,359.50. The company's stock had a trading volume of 32,637 shares, compared to its average volume of 127,847. The firm's 50-day moving average is $3,963.00 and its two-hundred day moving average is $3,760.65. The company has a market cap of $73.15 billion, a P/E ratio of 29.51, a PEG ratio of 2.26 and a beta of 0.41. AutoZone has a 1-year low of $2,898.57 and a 1-year high of $4,351.92.

Insider Buying and Selling at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares of the company's stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the transaction, the senior vice president owned 406 shares in the company, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after buying an additional 14 shares during the period. NorthRock Partners LLC acquired a new stake in AutoZone during the 4th quarter worth $311,000. Nomura Holdings Inc. bought a new stake in shares of AutoZone during the 4th quarter valued at $1,780,000. Man Group plc lifted its stake in shares of AutoZone by 291.9% in the 4th quarter. Man Group plc now owns 5,620 shares of the company's stock valued at $17,995,000 after purchasing an additional 4,186 shares during the period. Finally, Mufg Securities Americas Inc. acquired a new position in shares of AutoZone in the 4th quarter valued at $800,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Company Profile

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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