AutoZone (NYSE:AZO) Price Target Raised to $3,678.00 at Argus

AutoZone (NYSE:AZO) had its target price hoisted by research analysts at Argus from $3,560.00 to $3,678.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Argus’ target price points to a potential upside of 12.52% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. DA Davidson restated a “neutral” rating and set a $3,025.00 price target on shares of AutoZone in a report on Monday, September 30th. Evercore ISI boosted their target price on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Roth Mkm reaffirmed a “buy” rating and issued a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price target on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Wedbush restated an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $3,400.32.

AutoZone Stock Performance

NYSE AZO opened at $3,268.78 on Thursday. AutoZone has a 1 year low of $2,510.00 and a 1 year high of $3,416.71. The business’s fifty day moving average is $3,185.10 and its two-hundred day moving average is $3,109.99. The stock has a market capitalization of $54.86 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the firm earned $32.55 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts forecast that AutoZone will post 154.29 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the completion of the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of AutoZone in the third quarter valued at about $36,000. Meeder Asset Management Inc. boosted its stake in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares during the period. Carolina Wealth Advisors LLC bought a new position in AutoZone in the 3rd quarter worth approximately $47,000. Darwin Wealth Management LLC acquired a new position in shares of AutoZone during the third quarter worth approximately $47,000. Finally, McIlrath & Eck LLC boosted its position in shares of AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after acquiring an additional 4 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

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.