Brokerages Set AutoZone, Inc. (NYSE:AZO) Target Price at $4,271.25

AutoZone, Inc. (NYSE:AZO) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-nine analysts that are covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $4,280.6250.

A number of equities research analysts have recently weighed in on the stock. Roth Mkm restated a “buy” rating and issued a $4,650.00 price target (down from $4,750.00) on shares of AutoZone in a research note on Wednesday, December 10th. Wolfe Research downgraded shares of AutoZone from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 16th. DA Davidson cut their target price on shares of AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. The Goldman Sachs Group boosted their target price on shares of AutoZone from $4,234.00 to $4,274.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, Truist Financial dropped their price target on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 5,910 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the transaction, the vice president owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction that occurred on 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 sale, the director owned 4,887 shares in the company, valued at approximately $16,102,665. This represents a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Large investors have recently modified their holdings of the business. Raleigh Capital Management Inc. bought a new position in AutoZone during the 3rd quarter worth $26,000. Turning Point Benefit Group Inc. acquired a new position in shares of AutoZone in the third quarter worth approximately $25,000. Global Trust Asset Management LLC boosted its holdings in AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after acquiring an additional 6 shares during the last quarter. Aspect Partners LLC increased its position in AutoZone by 700.0% during 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. Finally, Salomon & Ludwin LLC bought a new position in AutoZone during the 3rd quarter worth approximately $34,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE AZO opened at $3,869.12 on Tuesday. AutoZone has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The business has a fifty day moving average price of $3,603.67 and a two-hundred day moving average price of $3,828.16. The stock has a market capitalization of $64.11 billion, a PE ratio of 26.98, a PEG ratio of 1.79 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%. As a group, sell-side analysts expect that AutoZone will post 152.94 earnings per share for the current year.

About AutoZone

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.