AutoZone (NYSE:AZO) Price Target Raised to $4,800.00

by · The Markets Daily

AutoZone (NYSE:AZO – Free Report) had its target price lifted by Wells Fargo & Company from $4,200.00 to $4,800.00 in a report issued on Monday morning, Marketbeat reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also issued reports on AZO. Citigroup upped their price objective on AutoZone from $3,900.00 to $4,900.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Truist Financial set a $3,995.00 target price on AutoZone in a research note on Friday, May 23rd. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 28th. BMO Capital Markets reiterated an “outperform” rating and set a $4,100.00 target price (up previously from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group set a $3,811.00 target price on AutoZone in a research note on Friday, May 23rd. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $4,339.33.

Get Our Latest Analysis on AutoZone

AutoZone Stock Performance

Shares of NYSE AZO opened at $4,224.39 on Monday. The stock has a 50 day moving average price of $4,017.73 and a 200 day moving average price of $3,789.63. AutoZone has a 52 week low of $2,898.57 and a 52 week high of $4,388.11. The stock has a market capitalization of $70.89 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 2.23 and a beta of 0.41.

Insider Activity

In other news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares of the company’s stock, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the transaction, the senior vice president directly owned 406 shares of the company’s stock, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its position in shares of AutoZone by 3.5% in the 1st quarter. Blue Trust Inc. now owns 89 shares of the company’s stock worth $339,000 after acquiring an additional 3 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its position in AutoZone by 10.1% in the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company’s stock valued at $11,267,000 after buying an additional 271 shares in the last quarter. Kirr Marbach & Co. LLC IN increased its position in AutoZone by 0.9% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company’s stock valued at $29,591,000 after buying an additional 68 shares in the last quarter. Banco Santander S.A. increased its position in AutoZone by 98.3% in the 1st quarter. Banco Santander S.A. now owns 829 shares of the company’s stock valued at $3,161,000 after buying an additional 411 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in AutoZone in the 1st quarter valued at about $545,000. 92.74% of the stock is owned by institutional investors.

AutoZone Company Profile

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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.

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