AutoZone (NYSE:AZO) Given New $3,394.00 Price Target at Truist Financial

AutoZone (NYSE:AZO) had its price target cut by Truist Financial from $3,523.00 to $3,394.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently commented on the stock. UBS Group raised their price target on shares of AutoZone from $3,100.00 to $3,425.00 and gave the company a buy rating in a report on Wednesday, February 28th. Morgan Stanley dropped their price objective on AutoZone from $3,100.00 to $3,038.00 and set an overweight rating for the company in a research note on Wednesday. Wedbush restated an outperform rating and issued a $3,400.00 target price on shares of AutoZone in a research note on Wednesday, May 15th. Citigroup lowered their price target on AutoZone from $3,505.00 to $3,420.00 and set a buy rating on the stock in a report on Tuesday, May 7th. Finally, Mizuho cut their price objective on AutoZone from $3,450.00 to $3,280.00 and set a buy rating for the company in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone presently has a consensus rating of Moderate Buy and a consensus price target of $3,066.53.

AutoZone Stock Up 0.6 %

Shares of NYSE AZO opened at $2,792.90 on Wednesday. The company has a market cap of $48.37 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.39 and a beta of 0.72. AutoZone has a 52 week low of $2,277.88 and a 52 week high of $3,256.37. The business has a 50-day simple moving average of $3,009.41 and a two-hundred day simple moving average of $2,829.02.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $34.12 earnings per share. Equities research analysts anticipate that AutoZone will post 151.5 EPS for the current year.

Insider Activity at AutoZone

In other news, VP Eric S. Gould sold 2,100 shares of AutoZone stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the transaction, the vice president now owns 910 shares in the company, valued at $2,912,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the sale, the vice president now owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Eric S. Gould sold 2,100 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the vice president now owns 910 shares in the company, valued at approximately $2,912,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,990 shares of company stock valued at $50,335,193. Insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

Several large investors have recently modified their holdings of AZO. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of AutoZone by 70.3% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 201 shares of the company’s stock valued at $511,000 after buying an additional 83 shares during the period. Larson Financial Group LLC increased its position in AutoZone by 471.4% during the 3rd quarter. Larson Financial Group LLC now owns 40 shares of the company’s stock valued at $102,000 after purchasing an additional 33 shares during the period. ORG Partners LLC bought a new position in AutoZone in the 3rd quarter worth $43,000. Nomura Asset Management Co. Ltd. lifted its position in shares of AutoZone by 17.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 7,329 shares of the company’s stock worth $18,616,000 after purchasing an additional 1,066 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of AutoZone by 6.4% during the 3rd quarter. Signaturefd LLC now owns 413 shares of the company’s stock valued at $1,049,000 after purchasing an additional 25 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

About AutoZone

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.