TD Cowen Lowers AutoZone (NYSE:AZO) Price Target to $4,250.00

AutoZone (NYSE:AZO) had its price target cut by equities research analysts at TD Cowen from $4,400.00 to $4,250.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 20.26% from the stock’s previous close.

Several other brokerages have also recently weighed in on AZO. Robert W. Baird cut AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price target for the company. in a research report on Monday, February 9th. Wells Fargo & Company dropped their price objective on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. UBS Group set a $4,800.00 target price on shares of AutoZone in a report on Tuesday, March 3rd. Raymond James Financial decreased their target price on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a research note on Wednesday, December 10th. Finally, Morgan Stanley increased their price target on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $4,312.13.

AutoZone Trading Down 0.8%

AZO traded down $28.85 during midday trading on Monday, hitting $3,534.00. 5,420 shares of the company were exchanged, compared to its average volume of 161,072. The company’s 50 day simple moving average is $3,649.70 and its 200 day simple moving average is $3,799.52. The firm has a market capitalization of $58.56 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.82 and a beta of 0.41. AutoZone has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the business posted $28.29 EPS. The company’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts anticipate that AutoZone will post 152.94 EPS for the current year.

Insiders Place Their Bets

In related news, Director Brian Hannasch purchased 147 shares of AutoZone stock in a transaction dated Thursday, December 18th. The shares were acquired at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the acquisition, the director directly owned 962 shares in the company, valued at approximately $3,264,152.58. The trade was a 18.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president directly owned 2,627 shares of the company’s stock, valued at $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 9,447 shares of company stock worth $34,179,923. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of AutoZone

Institutional investors and hedge funds have recently bought and sold shares of the business. Raleigh Capital Management Inc. acquired a new position in shares of AutoZone in the third quarter valued at approximately $26,000. Turning Point Benefit Group Inc. acquired a new stake in AutoZone during the 3rd quarter worth approximately $25,000. Global Trust Asset Management LLC boosted its position in AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after buying an additional 6 shares during the period. Salomon & Ludwin LLC acquired a new position in shares of AutoZone in the third quarter worth $34,000. Finally, Torren Management LLC purchased a new stake in shares of AutoZone during the fourth quarter worth $27,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.