AutoZone (NYSE:AZO) PT Raised to $2,850.00 at Raymond James

Posted by Defense World Staff on Apr 20th, 2023

AutoZone logo AutoZone (NYSE:AZO – Get Rating) had its price target hoisted by research analysts at Raymond James from $2,650.00 to $2,850.00 in a report issued on Wednesday, The Fly reports. Raymond James’ price target would indicate a potential upside of 7.02% from the company’s previous close.

AZO has been the subject of several other reports. The Goldman Sachs Group lifted their price target on shares of AutoZone from $2,563.00 to $2,899.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. Truist Financial lifted their price target on shares of AutoZone from $2,800.00 to $2,878.00 in a report on Wednesday, March 1st. Morgan Stanley lifted their price target on shares of AutoZone from $2,725.00 to $2,800.00 and gave the company an “overweight” rating in a report on Wednesday, March 1st. Barclays initiated coverage on shares of AutoZone in a report on Tuesday, February 7th. They set an “overweight” rating and a $2,663.00 price target for the company. Finally, StockNews.com started coverage on shares of AutoZone in a research note on Thursday, March 16th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $2,664.53.

AutoZone Trading Down 0.7 %

NYSE:AZO opened at $2,663.16 on Wednesday. AutoZone has a 1 year low of $1,703.32 and a 1 year high of $2,691.99. The firm’s fifty day simple moving average is $2,498.24 and its 200 day simple moving average is $2,443.42. The firm has a market capitalization of $49.00 billion, a PE ratio of 21.90, a PEG ratio of 1.81 and a beta of 0.68.

AutoZone (NYSE:AZO – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported $24.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $21.33 by $3.31. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.56 billion. AutoZone had a net margin of 14.32% and a negative return on equity of 64.72%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $22.30 EPS. As a group, analysts anticipate that AutoZone will post 127.83 EPS for the current fiscal year.

Insider Transactions at AutoZone

In related news, VP Dennis W. Leriche sold 1,420 shares of the stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $2,573.04, for a total transaction of $3,653,716.80. Following the sale, the vice president now directly owns 379 shares of the company’s stock, valued at $975,182.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Preston Frazer sold 1,730 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $2,523.07, for a total transaction of $4,364,911.10. Following the sale, the executive vice president now directly owns 946 shares of the company’s stock, valued at approximately $2,386,824.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dennis W. Leriche sold 1,420 shares of the company’s stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $2,573.04, for a total value of $3,653,716.80. Following the completion of the transaction, the vice president now directly owns 379 shares in the company, valued at approximately $975,182.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,960 shares of company stock valued at $90,128,092. Insiders own 2.59% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of AutoZone by 0.7% during the 3rd quarter. BlackRock Inc. now owns 1,521,550 shares of the company’s stock worth $3,259,055,000 after purchasing an additional 10,791 shares during the last quarter. JPMorgan Chase & Co. raised its stake in AutoZone by 4.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,204,151 shares of the company’s stock valued at $2,969,654,000 after buying an additional 48,141 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after buying an additional 698,613 shares during the last quarter. Royal Bank of Canada raised its stake in AutoZone by 2.6% in the third quarter. Royal Bank of Canada now owns 466,179 shares of the company’s stock valued at $998,521,000 after buying an additional 11,713 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in AutoZone by 241,813.5% in the first quarter. Proficio Capital Partners LLC now owns 304,811 shares of the company’s stock valued at $305,000 after buying an additional 304,685 shares during the last quarter. 91.12% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Company Profile

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AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.

Analyst Recommendations for AutoZone (NYSE:AZO)

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