AutoZone (NYSE:AZO) Price Target Raised to $1,357.00 at Citigroup

AutoZone (NYSE:AZO) had its price objective hoisted by Citigroup from $1,234.00 to $1,357.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on AZO. Goldman Sachs Group initiated coverage on shares of AutoZone in a report on Thursday, July 11th. They set a neutral rating and a $1,183.00 target price for the company. Wells Fargo & Co reaffirmed a buy rating and set a $1,140.00 target price on shares of AutoZone in a report on Tuesday, May 21st. Wedbush reaffirmed an outperform rating and set a $1,100.00 target price (up previously from $1,030.00) on shares of AutoZone in a report on Wednesday, May 22nd. CIBC raised shares of AutoZone from a market perform rating to an outperform rating in a report on Friday, June 28th. Finally, Zacks Investment Research raised shares of AutoZone from a hold rating to a buy rating and set a $1,156.00 target price for the company in a report on Friday, June 7th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $1,068.94.

AutoZone stock opened at $1,130.66 on Friday. AutoZone has a 52-week low of $705.01 and a 52-week high of $1,186.60. The firm has a market capitalization of $27.69 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 1.41 and a beta of 0.65. The company has a fifty day simple moving average of $1,104.85 and a 200-day simple moving average of $1,064.81.

In other news, insider Richard Craig Smith sold 2,800 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1,120.00, for a total transaction of $3,136,000.00. Following the transaction, the insider now owns 5,800 shares of the company’s stock, valued at approximately $6,496,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Earl G. Graves, Jr. sold 500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $1,077.04, for a total transaction of $538,520.00. Following the transaction, the director now directly owns 4,607 shares in the company, valued at approximately $4,961,923.28. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Atlas Capital Advisors LLC boosted its position in shares of AutoZone by 13.6% during the 2nd quarter. Atlas Capital Advisors LLC now owns 75 shares of the company’s stock valued at $82,000 after acquiring an additional 9 shares during the last quarter. Berman Capital Advisors LLC lifted its position in AutoZone by 30.3% in the first quarter. Berman Capital Advisors LLC now owns 43 shares of the company’s stock valued at $44,000 after buying an additional 10 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in AutoZone by 5.6% in the second quarter. Flagship Harbor Advisors LLC now owns 190 shares of the company’s stock valued at $208,000 after buying an additional 10 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in AutoZone by 2.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 350 shares of the company’s stock valued at $385,000 after buying an additional 10 shares during the last quarter. Finally, Savant Capital LLC lifted its position in AutoZone by 1.5% in the second quarter. Savant Capital LLC now owns 658 shares of the company’s stock valued at $723,000 after buying an additional 10 shares during the last quarter. 94.21% 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. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Analyst Recommendations for AutoZone (NYSE:AZO)

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