Guggenheim Raises AutoZone (NYSE:AZO) Price Target to $3,225.00

AutoZone (NYSE:AZO) had its target price boosted by Guggenheim from $3,150.00 to $3,225.00 in a report released on Wednesday morning, Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other research analysts also recently commented on the stock. Barclays decreased their price target on shares of AutoZone from $3,100.00 to $3,024.00 and set an overweight rating on the stock in a research note on Thursday, May 23rd. Truist Financial decreased their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a buy rating on the stock in a research report on Wednesday, May 22nd. Wedbush cut their price target on shares of AutoZone from $3,400.00 to $3,200.00 and set an outperform rating for the company in a research report on Wednesday, May 22nd. Citigroup decreased their price objective on AutoZone from $3,420.00 to $3,250.00 and set a buy rating on the stock in a report on Wednesday, May 22nd. Finally, StockNews.com cut AutoZone from a buy rating to a hold rating in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $3,112.88.

AutoZone Stock Up 0.3 %

AZO opened at $2,964.10 on Wednesday. The business’s fifty day simple moving average is $2,894.37 and its 200 day simple moving average is $2,864.56. AutoZone has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The stock has a market cap of $50.63 billion, a PE ratio of 20.50, a P/E/G ratio of 1.48 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $34.12 EPS. As a group, equities analysts anticipate that AutoZone will post 151.57 earnings per share for the current year.

Insider Activity at AutoZone

In related news, VP Jenna M. Bedsole acquired 36 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the acquisition, the vice president now owns 36 shares of the company’s stock, valued at $99,255.60. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AZO. International Assets Investment Management LLC boosted its position in shares of AutoZone by 232,194.6% during the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after purchasing an additional 731,413 shares in the last quarter. Norges Bank purchased a new position in AutoZone during the fourth quarter valued at $678,350,000. Wellington Management Group LLP boosted its holdings in shares of AutoZone by 111.4% during the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after buying an additional 176,623 shares in the last quarter. Captrust Financial Advisors grew its position in shares of AutoZone by 564.2% in the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after buying an additional 129,193 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of AutoZone by 106.7% in the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after acquiring an additional 60,852 shares in the last quarter. Hedge funds and other 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.