AutoZone (NYSE:AZO) had its price target raised by JPMorgan Chase & Co. from $995.00 to $1,126.00 in a report published on Monday, The Fly reports. They currently have an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. Citigroup began coverage on shares of AutoZone in a report on Monday, April 1st. They issued a buy rating and a $1,206.00 target price on the stock. Morgan Stanley boosted their target price on shares of AutoZone from $980.00 to $1,050.00 and gave the stock an equal weight rating in a report on Friday, March 29th. Evercore ISI began coverage on shares of AutoZone in a report on Wednesday, March 20th. They issued an in-line rating and a $1,030.00 target price on the stock. Bank of America upgraded shares of AutoZone from a neutral rating to a buy rating in a report on Monday, March 11th. Finally, Credit Suisse Group restated an outperform rating and issued a $1,050.00 target price (up from $930.00) on shares of AutoZone in a report on Wednesday, February 27th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. AutoZone presently has a consensus rating of Buy and an average target price of $960.13.

Shares of NYSE AZO opened at $1,051.37 on Monday. The firm has a market capitalization of $26.42 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 1.43 and a beta of 0.69. AutoZone has a 52-week low of $590.76 and a 52-week high of $1,074.67.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, February 26th. The company reported $11.49 earnings per share for the quarter, topping analysts’ consensus estimates of $9.97 by $1.52. AutoZone had a net margin of 12.49% and a negative return on equity of 98.24%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the firm posted $8.47 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities research analysts predict that AutoZone will post 61.74 earnings per share for the current year.

In related news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $1,038.68, for a total transaction of $259,670.00. Following the completion of the transaction, the director now directly owns 4,357 shares of the company’s stock, valued at approximately $4,525,528.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas B. Newbern sold 7,500 shares of AutoZone stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $995.92, for a total transaction of $7,469,400.00. Following the transaction, the vice president now directly owns 12,073 shares of the company’s stock, valued at $12,023,742.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,640 shares of company stock valued at $10,370,907. 2.80% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. W.E. Donoghue & Co. LLC purchased a new position in shares of AutoZone during the 1st quarter worth about $2,900,000. FMR LLC boosted its position in AutoZone by 3.7% in the 4th quarter. FMR LLC now owns 1,403,413 shares of the company’s stock valued at $1,176,537,000 after buying an additional 49,662 shares during the period. Nippon Life Global Investors Americas Inc. purchased a new stake in AutoZone in the 4th quarter valued at about $2,691,000. State Treasurer State of Michigan boosted its position in AutoZone by 413.3% in the 4th quarter. State Treasurer State of Michigan now owns 40,364 shares of the company’s stock valued at $33,839,000 after buying an additional 32,500 shares during the period. Finally, Polianta Ltd purchased a new stake in AutoZone in the 4th quarter valued at about $1,173,000. 95.06% of the stock is owned by hedge funds and other institutional investors.

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, carburetors, 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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Analyst Recommendations for AutoZone (NYSE:AZO)

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