Evercore ISI Cuts AutoZone (NYSE:AZO) Price Target to $3,275.00

AutoZone (NYSE:AZO) had its price target decreased by Evercore ISI from $3,278.00 to $3,275.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

A number of other equities analysts also recently issued reports on AZO. Truist Financial cut their price target on shares of AutoZone from $3,523.00 to $3,394.00 and set a buy rating for the company in a report on Wednesday, May 22nd. Morgan Stanley dropped their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an overweight rating for the company in a report on Wednesday, May 22nd. Barclays dropped their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an overweight rating for the company in a report on Thursday, May 23rd. UBS Group dropped their target price on shares of AutoZone from $3,465.00 to $3,340.00 and set a buy rating for the company in a report on Wednesday, May 22nd. Finally, Wolfe Research dropped their target price on shares of AutoZone from $3,150.00 to $3,000.00 and set an outperform rating for the company in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AutoZone has an average rating of Moderate Buy and an average price target of $3,112.71.

AutoZone Stock Performance

AZO stock opened at $2,844.88 on Tuesday. AutoZone has a one year low of $2,375.35 and a one year high of $3,256.37. The stock has a market capitalization of $48.59 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.71. The company has a fifty day moving average of $2,886.95 and a 200-day moving average of $2,868.46.

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, beating analysts’ consensus estimates of $35.67 by $1.02. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $34.12 EPS. Equities analysts forecast that AutoZone will post 151.57 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Jenna M. Bedsole acquired 36 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the purchase, the vice president now directly owns 36 shares of the company’s stock, valued at approximately $99,255.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.

Institutional Trading of AutoZone

Several institutional investors have recently added to or reduced their stakes in the business. Hohimer Wealth Management LLC increased its stake in AutoZone by 1.1% during the third quarter. Hohimer Wealth Management LLC now owns 361 shares of the company’s stock valued at $917,000 after purchasing an additional 4 shares during the last quarter. Summit Trail Advisors LLC increased its stake in AutoZone by 3.8% during the fourth quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock valued at $283,000 after purchasing an additional 4 shares during the last quarter. Guardian Capital LP increased its stake in AutoZone by 1.3% during the fourth quarter. Guardian Capital LP now owns 301 shares of the company’s stock valued at $778,000 after purchasing an additional 4 shares during the last quarter. Quent Capital LLC increased its stake in AutoZone by 4.8% during the first quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after purchasing an additional 4 shares during the last quarter. Finally, TriaGen Wealth Management LLC increased its stake in AutoZone by 3.9% during the fourth quarter. TriaGen Wealth Management LLC now owns 133 shares of the company’s stock valued at $344,000 after purchasing an additional 5 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

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.