AutoZone (NYSE:AZO) PT Set at $4,200.00 by Wells Fargo & Company

AutoZone (NYSE:AZO) received a $4,200.00 target price from research analysts at Wells Fargo & Company in a research report issued on Monday, MarketBeat reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.67% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Bank of America upped their target price on shares of AutoZone from $3,600.00 to $3,700.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Raymond James reaffirmed a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, March 5th. Evercore ISI increased their price objective on AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Roth Capital set a $3,763.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. Finally, Argus cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $3,966.76.

AutoZone Stock Down 0.8%

AutoZone stock traded down $29.62 during mid-day trading on Monday, reaching $3,829.63. 120,679 shares of the company’s stock were exchanged, compared to its average volume of 128,636. AutoZone has a twelve month low of $2,728.97 and a twelve month high of $3,916.81. The company has a market cap of $64.27 billion, a P/E ratio of 25.59, a P/E/G ratio of 1.86 and a beta of 0.44. The company has a fifty day moving average of $3,682.93 and a 200-day moving average of $3,441.47.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Equities research analysts expect that AutoZone will post 152.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the sale, the senior vice president now owns 50 shares of the company’s stock, valued at approximately $177,500. This trade represents a 76.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Daniele sold 2,000 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the sale, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. The trade was a 92.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,521 shares of company stock worth $42,177,331. Company insiders own 2.10% of the company’s stock.

Institutional Trading of AutoZone

Several hedge funds and other institutional investors have recently made changes to their positions in AZO. AlphaCore Capital LLC purchased a new position in AutoZone in the first quarter valued at about $27,000. Saudi Central Bank purchased a new stake in shares of AutoZone during the 1st quarter worth approximately $27,000. Headlands Technologies LLC acquired a new stake in shares of AutoZone in the 4th quarter worth approximately $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone in the 4th quarter worth approximately $32,000. Finally, Harbour Investments Inc. increased its stake in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

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.