Roth Mkm Cuts AutoZone (NYSE:AZO) Price Target to $4,526.00

AutoZone (NYSE:AZO) had its price target decreased by Roth Mkm from $4,650.00 to $4,526.00 in a report published on Wednesday,MarketScreener reports. Roth Mkm currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on AZO. Mizuho reissued a “neutral” rating and issued a $3,550.00 price objective (down from $3,850.00) on shares of AutoZone in a report on Monday, January 5th. Citigroup reduced their target price on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Gabelli restated a “buy” rating on shares of AutoZone in a research note on Thursday, November 6th. Wells Fargo & Company reduced their price objective on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Finally, Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4,311.57.

AutoZone Trading Down 2.7%

NYSE:AZO opened at $3,641.03 on Wednesday. AutoZone has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The firm’s 50 day moving average is $3,621.83 and its 200 day moving average is $3,821.39. The stock has a market capitalization of $60.33 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 1.92 and a beta of 0.41.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 72.31% and a net margin of 12.47%.The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business posted $28.29 earnings per share. Research analysts predict that AutoZone will post 152.94 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In related news, Director Brian Hannasch bought 147 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the purchase, the director directly owned 962 shares of the company’s stock, valued at $3,264,152.58. This trade represents a 18.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Richard Craig Smith sold 5,910 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the transaction, the vice president directly owned 2,627 shares of the company’s stock, valued at approximately $9,719,900. This represents a 69.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders bought 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of AutoZone

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raleigh Capital Management Inc. bought a new stake in shares of AutoZone during the 3rd quarter worth $26,000. Turning Point Benefit Group Inc. bought a new position in AutoZone in the third quarter valued at $25,000. Global Trust Asset Management LLC increased its stake 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 raised its position in AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in AutoZone during the third quarter valued at about $34,000. Hedge funds and other institutional investors 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.