AutoZone (NYSE:AZO) PT Lowered to $3,500.00

AutoZone (NYSE:AZO) had its target price trimmed by Citigroup from $3,787.00 to $3,500.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on AZO. Oppenheimer restated a market perform rating and set a $2,600.00 price target on shares of AutoZone in a research note on Wednesday, June 26th. UBS Group raised their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a buy rating in a research report on Wednesday. Wedbush reiterated an outperform rating and issued a $3,200.00 price target on shares of AutoZone in a research report on Thursday, September 19th. Truist Financial lowered their price objective on shares of AutoZone from $3,394.00 to $3,341.00 and set a buy rating on the stock in a research report on Wednesday. Finally, StockNews.com cut shares of AutoZone from a buy rating to a hold rating in a report on Saturday, September 21st. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone presently has a consensus rating of Moderate Buy and an average price target of $3,169.38.

AutoZone Trading Up 0.2 %

Shares of NYSE:AZO opened at $3,196.61 on Wednesday. The firm has a 50 day simple moving average of $3,121.63 and a 200-day simple moving average of $3,012.27. AutoZone has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The company has a market capitalization of $54.61 billion, a PE ratio of 22.11, a P/E/G ratio of 1.43 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. AutoZone’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $46.46 earnings per share. As a group, equities research analysts predict that AutoZone will post 151.08 EPS for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. The sale was disclosed in a filing with the SEC, which is available at this link. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On AutoZone

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PineStone Asset Management Inc. raised its position in shares of AutoZone by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock worth $918,998,000 after purchasing an additional 179,543 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of AutoZone in the second quarter valued at $424,000. Captrust Financial Advisors lifted its position in shares of AutoZone by 564.2% in the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after acquiring an additional 129,193 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of AutoZone by 2,714.8% during the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after acquiring an additional 115,924 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in AutoZone by 106.7% during the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after purchasing an additional 60,852 shares in the last quarter. Institutional investors and hedge funds 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.