AutoZone (NYSE:AZO) Given New $3,800.00 Price Target at Barclays

AutoZone (NYSE:AZO) had its price objective lowered by stock analysts at Barclays from $4,318.00 to $3,800.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 14.17% from the stock’s current price.

Several other analysts also recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of AutoZone in a research note on Monday, December 29th. Truist Financial lowered their price target on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Jefferies Financial Group restated a “buy” rating and issued a $4,400.00 price objective on shares of AutoZone in a research note on Wednesday, December 10th. Mizuho reaffirmed a “neutral” rating and set a $3,550.00 price objective (down from $3,850.00) on shares of AutoZone in a report on Monday. Finally, Guggenheim dropped their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4,310.12.

AutoZone Stock Performance

Shares of NYSE AZO traded up $10.33 during trading hours on Thursday, hitting $3,328.41. The stock had a trading volume of 56,579 shares, compared to its average volume of 175,354. The firm’s 50-day moving average price is $3,631.11 and its two-hundred day moving average price is $3,859.02. AutoZone has a 52 week low of $3,162.00 and a 52 week high of $4,388.11. The company has a market capitalization of $55.15 billion, a P/E ratio of 23.21, a P/E/G ratio of 1.54 and a beta of 0.42.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. AutoZone’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $32.52 earnings per share. As a group, analysts expect that AutoZone will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has authorized a stock buyback plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In related news, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the transaction, the director directly owned 4,887 shares in the company, valued at $16,102,665. The trade was a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Hannasch acquired 147 shares of AutoZone stock in a transaction on Thursday, December 18th. The stock was purchased at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the transaction, the director directly owned 962 shares in the company, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 347 shares of company stock valued at $1,179,256 and sold 3,180 shares valued at $12,465,312. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AutoZone

Hedge funds have recently made changes to their positions in the business. Turning Point Benefit Group Inc. acquired a new stake in shares of AutoZone during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. acquired a new stake in AutoZone during the third quarter valued at approximately $26,000. Aspect Partners LLC grew its stake in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares during the period. Global Trust Asset Management LLC raised its holdings in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after buying an additional 6 shares in the last quarter. Finally, Bank of Jackson Hole Trust bought a new position in shares of AutoZone during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

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.