AutoZone (NYSE:AZO) Coverage Initiated at Truist Financial

Equities research analysts at Truist Financial assumed coverage on shares of AutoZone (NYSE:AZO) in a research report issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $2,329.00 price target on the stock. Truist Financial’s price objective would indicate a potential upside of 14.53% from the stock’s current price.

A number of other research firms also recently weighed in on AZO. Jefferies Financial Group raised their price target on shares of AutoZone from $1,900.00 to $2,350.00 and gave the stock a “buy” rating in a research report on Wednesday, December 8th. Wedbush raised their price target on shares of AutoZone from $1,900.00 to $2,250.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 8th. Raymond James lifted their price objective on shares of AutoZone from $1,950.00 to $2,200.00 and gave the stock an “outperform” rating in a report on Wednesday, December 8th. Citigroup lifted their price objective on shares of AutoZone from $1,950.00 to $2,332.00 and gave the stock a “buy” rating in a report on Wednesday, December 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of AutoZone from $1,779.00 to $2,045.00 and gave the stock a “neutral” rating in a report on Wednesday, December 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $2,038.74.

Shares of NYSE:AZO opened at $2,033.48 on Thursday. AutoZone has a 52-week low of $1,111.71 and a 52-week high of $2,110.00. The company has a 50 day moving average of $1,959.51 and a two-hundred day moving average of $1,750.97. The company has a market capitalization of $41.96 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 1.73 and a beta of 0.88.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 7th. The company reported $25.69 earnings per share for the quarter, topping analysts’ consensus estimates of $20.87 by $4.82. AutoZone had a net margin of 15.08% and a negative return on equity of 126.68%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company earned $18.61 earnings per share. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts anticipate that AutoZone will post 107.35 EPS for the current year.

In related news, Director George R. Mrkonic, Jr. sold 217 shares of AutoZone stock in a transaction dated Tuesday, January 4th. The shares were sold at an average price of $2,046.87, for a total transaction of $444,170.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kristen C. Wright sold 5,858 shares of AutoZone stock in a transaction dated Friday, December 10th. The shares were sold at an average price of $1,997.54, for a total transaction of $11,701,589.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,525 shares of company stock worth $20,958,078. Company insiders own 2.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co grew its holdings in AutoZone by 3.1% during the third quarter. CENTRAL TRUST Co now owns 200 shares of the company’s stock worth $340,000 after acquiring an additional 6 shares during the period. Leisure Capital Management grew its holdings in AutoZone by 0.7% during the third quarter. Leisure Capital Management now owns 811 shares of the company’s stock worth $1,377,000 after acquiring an additional 6 shares during the period. Regal Investment Advisors LLC grew its holdings in AutoZone by 2.8% during the third quarter. Regal Investment Advisors LLC now owns 218 shares of the company’s stock worth $370,000 after acquiring an additional 6 shares during the period. Berman Capital Advisors LLC grew its holdings in AutoZone by 8.9% during the second quarter. Berman Capital Advisors LLC now owns 86 shares of the company’s stock worth $127,000 after acquiring an additional 7 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in AutoZone by 22.6% during the third quarter. Global Retirement Partners LLC now owns 38 shares of the company’s stock worth $65,000 after acquiring an additional 7 shares during the period. 91.01% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Company Profile

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.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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