AutoZone (NYSE:AZO) Price Target Raised to $4,811.00 at BNP Paribas Exane

AutoZone (NYSE:AZO) had its target price hoisted by BNP Paribas Exane from $4,155.00 to $4,811.00 in a research note issued to investors on Wednesday,MarketScreener reports. BNP Paribas Exane currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Raymond James Financial lowered their target price on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating for the company in a report on Wednesday. UBS Group dropped their price target on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a research report on Wednesday. Cowen reaffirmed a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Roth Capital upped their price target on shares of AutoZone from $4,135.00 to $4,800.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Finally, Barclays upped their price target on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $4,538.21.

AutoZone Trading Up 1.5%

NYSE:AZO opened at $4,196.29 on Wednesday. The firm has a 50-day moving average price of $4,079.31 and a two-hundred day moving average price of $3,817.29. AutoZone has a twelve month low of $2,980.10 and a twelve month high of $4,388.11. The company has a market capitalization of $70.41 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 1.89 and a beta of 0.41.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing the consensus estimate of $50.52 by ($1.81). The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $51.58 earnings per share. On average, equities research analysts predict that AutoZone will post 152.94 earnings per share for the current year.

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the sale, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the sale, the vice president owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On AutoZone

Institutional investors have recently bought and sold shares of the business. AlphaCore Capital LLC purchased a new position in shares of AutoZone in the first quarter valued at $27,000. Saudi Central Bank purchased a new position in shares of AutoZone in the first quarter valued at $27,000. Aspect Partners LLC boosted its stake in shares of AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares during the period. Bank of Jackson Hole Trust purchased a new position in shares of AutoZone in the second quarter valued at $33,000. Finally, NewSquare Capital LLC boosted its stake in shares of AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is currently 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.