AutoZone (NYSE:AZO) Given New $3,346.00 Price Target at Evercore ISI

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

Other equities research analysts have also recently issued research reports about the company. Truist Financial upped their price target on AutoZone from $3,363.00 to $3,523.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. StockNews.com cut AutoZone from a buy rating to a hold rating in a report on Friday, April 12th. UBS Group upped their price target on AutoZone from $3,100.00 to $3,425.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Barclays upped their price target on AutoZone from $2,779.00 to $3,100.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Finally, Mizuho started coverage on AutoZone in a report on Tuesday, March 19th. They issued a buy rating and a $3,450.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has 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 $3,086.61.

AutoZone Trading Up 1.2 %

NYSE AZO opened at $2,973.17 on Tuesday. The business’s 50 day moving average is $2,998.95 and its two-hundred day moving average is $2,754.16. AutoZone has a 12-month low of $2,277.88 and a 12-month high of $3,256.37. The stock has a market capitalization of $51.50 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.45 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 (EPS) for the quarter, topping the consensus estimate of $26.08 by $2.81. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $24.64 EPS. Equities analysts forecast that AutoZone will post 151.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AZO. RB Capital Management LLC purchased a new position in shares of AutoZone in the 1st quarter worth $274,000. Fairfield Bush & CO. acquired a new stake in AutoZone in the 1st quarter valued at $57,000. Roundview Capital LLC increased its holdings in AutoZone by 8.1% in the 1st quarter. Roundview Capital LLC now owns 426 shares of the company’s stock valued at $871,000 after purchasing an additional 32 shares in the last quarter. Cetera Advisor Networks LLC increased its holdings in AutoZone by 31.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 237 shares of the company’s stock valued at $485,000 after purchasing an additional 57 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in AutoZone by 24.4% in the 1st quarter. Sei Investments Co. now owns 12,966 shares of the company’s stock valued at $26,331,000 after purchasing an additional 2,545 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other 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.