AutoZone (NYSE:AZO) PT Lowered to $3,346.00

AutoZone (NYSE:AZO) had its price target decreased by Evercore ISI from $3,400.00 to $3,346.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of AutoZone from $3,000.00 to $3,200.00 and gave the company an overweight rating in a report on Wednesday, February 28th. DA Davidson boosted their price objective on shares of AutoZone from $2,770.00 to $3,025.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. UBS Group raised their target price on AutoZone from $3,100.00 to $3,425.00 and gave the company a buy rating in a report on Wednesday, February 28th. TheStreet cut AutoZone from a c rating to a d+ rating in a report on Wednesday, December 20th. Finally, Barclays raised their price objective on AutoZone from $2,779.00 to $3,100.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $3,086.61.

AutoZone Price Performance

Shares of NYSE:AZO opened at $2,985.55 on Tuesday. The business’s 50 day simple moving average is $3,005.06 and its 200 day simple moving average is $2,757.38. AutoZone has a 1 year low of $2,277.88 and a 1 year high of $3,256.37. The company has a market capitalization of $51.71 billion, a P/E ratio of 21.02, a P/E/G ratio of 1.46 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating analysts’ consensus estimates of $26.08 by $2.81. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $24.64 EPS. On average, sell-side analysts anticipate that AutoZone will post 152.4 EPS for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the sale, the chairman now owns 15,357 shares in the company, valued at approximately $48,992,208.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the transaction, the vice president now owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the sale, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock worth $50,335,193 over the last three months. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Rosenberg Matthew Hamilton increased its holdings in AutoZone by 8.2% in the third quarter. Rosenberg Matthew Hamilton now owns 53 shares of the company’s stock worth $135,000 after purchasing an additional 4 shares in the last quarter. CWM LLC increased its stake in shares of AutoZone by 1.3% in the 3rd quarter. CWM LLC now owns 301 shares of the company’s stock valued at $765,000 after acquiring an additional 4 shares in the last quarter. Private Trust Co. NA lifted its position in shares of AutoZone by 2.9% during the 3rd quarter. Private Trust Co. NA now owns 142 shares of the company’s stock valued at $361,000 after acquiring an additional 4 shares during the period. Venturi Wealth Management LLC boosted its stake in AutoZone by 2.0% during the third quarter. Venturi Wealth Management LLC now owns 202 shares of the company’s stock worth $513,000 after acquiring an additional 4 shares in the last quarter. Finally, Plancorp LLC grew its holdings in AutoZone by 3.0% in the third quarter. Plancorp LLC now owns 136 shares of the company’s stock worth $345,000 after purchasing an additional 4 shares during the period. 92.74% of the stock is owned by institutional investors.

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.