AutoZone (NYSE:AZO - Get Free Report) had its price objective raised by analysts at Argus from $3,560.00 to $3,678.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Argus' price target indicates a potential upside of 14.29% from the stock's previous close.
A number of other brokerages have also weighed in on AZO. BMO Capital Markets began coverage on AutoZone in a report on Friday, December 13th. They set an "outperform" rating and a $3,700.00 price objective on the stock. Citigroup raised their price target on AutoZone from $3,500.00 to $3,900.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Roth Capital raised shares of AutoZone to a "strong-buy" rating in a research report on Tuesday, October 15th. Mizuho upped their target price on AutoZone from $3,350.00 to $3,600.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Finally, Evercore ISI lifted their price target on AutoZone from $3,400.00 to $3,450.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, AutoZone has a consensus rating of "Moderate Buy" and a consensus target price of $3,400.32.
Check Out Our Latest Report on AZO
Shares of NYSE:AZO traded up $16.08 on Thursday, hitting $3,218.08. 8,922 shares of the company were exchanged, compared to its average volume of 139,031. The stock's 50 day moving average price is $3,183.23 and its 200 day moving average price is $3,109.01. AutoZone has a 1-year low of $2,510.00 and a 1-year high of $3,416.71. The firm has a market capitalization of $54.01 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71.
AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. AutoZone's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $32.55 earnings per share. On average, equities analysts predict that AutoZone will post 154.29 EPS for the current fiscal year.
In other news, Chairman William C. Rhodes III sold 13,000 shares of the firm's stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the completion of the sale, the chairman now directly owns 13,857 shares of the company's stock, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. raised its position in AutoZone by 18.1% during the third quarter. Franklin Resources Inc. now owns 44,946 shares of the company's stock valued at $141,717,000 after purchasing an additional 6,898 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock valued at $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Verde Capital Management purchased a new position in shares of AutoZone during the 3rd quarter valued at about $1,137,000. Mizuho Securities USA LLC lifted its position in AutoZone by 592.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company's stock worth $29,012,000 after buying an additional 7,879 shares during the last quarter. Finally, Asset Advisors Investment Management LLC boosted its stake in AutoZone by 44.9% in the third quarter. Asset Advisors Investment Management LLC now owns 1,678 shares of the company's stock worth $5,286,000 after buying an additional 520 shares in the last quarter. Institutional investors own 92.74% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider AutoZone, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AutoZone wasn't on the list.
While AutoZone currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.