1ST Source Bank Takes Position in AutoZone, Inc. (NYSE:AZO)

1ST Source Bank acquired a new position in AutoZone, Inc. (NYSE:AZO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 63 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in AutoZone by 8.0% in the 4th quarter. Parallel Advisors LLC now owns 202 shares of the company’s stock worth $647,000 after buying an additional 15 shares during the period. Cibc World Markets Corp boosted its holdings in AutoZone by 15.9% in the 4th quarter. Cibc World Markets Corp now owns 2,679 shares of the company’s stock valued at $8,578,000 after purchasing an additional 367 shares during the period. Glenview Trust co boosted its holdings in AutoZone by 116.0% in the 4th quarter. Glenview Trust co now owns 311 shares of the company’s stock valued at $996,000 after purchasing an additional 167 shares during the period. Harbour Investments Inc. boosted its holdings in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after purchasing an additional 3 shares during the period. Finally, Gitterman Wealth Management LLC boosted its holdings in AutoZone by 39.0% in the 4th quarter. Gitterman Wealth Management LLC now owns 114 shares of the company’s stock valued at $365,000 after purchasing an additional 32 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Up 1.8 %

Shares of AZO opened at $3,620.16 on Tuesday. The firm’s 50-day moving average price is $3,408.03 and its 200-day moving average price is $3,247.36. The firm has a market capitalization of $60.75 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,704.43.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. On average, research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Raymond James reissued a “strong-buy” rating on shares of AutoZone in a report on Wednesday, March 5th. Evercore ISI raised their price objective on shares of AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Barclays raised their price objective on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Roth Capital set a $3,763.00 price objective on shares of AutoZone in a research report on Wednesday, March 5th. Finally, Truist Financial lifted their target price on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $3,651.91.

Insider Buying and Selling

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of AutoZone stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares of the company’s stock, valued at approximately $177,500. The trade was a 76.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dennis W. Leriche sold 1,575 shares of AutoZone stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the completion of the transaction, the vice president now directly owns 417 shares of the company’s stock, valued at $1,501,200. This trade represents a 79.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,871 shares of company stock valued at $6,720,811 over the last quarter. Corporate insiders own 2.10% 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.