AutoZone (NYSE:AZO – Get Rating) had its target price raised by Argus from $2,210.00 to $2,330.00 in a report published on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also issued reports on AZO. UBS Group increased their price target on AutoZone from $2,100.00 to $2,260.00 and gave the stock a neutral rating in a research note on Monday, September 12th. JPMorgan Chase & Co. upped their price objective on AutoZone from $2,550.00 to $2,660.00 and gave the company an overweight rating in a research report on Tuesday, September 20th. Stifel Nicolaus restated a buy rating and set a $2,450.00 price objective on shares of AutoZone in a research report on Thursday, September 22nd. Jefferies Financial Group upped their price objective on AutoZone from $2,350.00 to $2,450.00 and gave the company a buy rating in a research report on Tuesday, September 20th. Finally, Wedbush increased their price target on AutoZone from $2,250.00 to $2,350.00 and gave the stock an outperform rating in a report on Tuesday, September 20th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, AutoZone has an average rating of Moderate Buy and a consensus target price of $2,364.53.

AutoZone Trading Up 0.3 %

Shares of NYSE:AZO opened at $2,099.50 on Tuesday. The company has a market cap of $40.92 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. The company has a 50-day moving average price of $2,179.14 and a 200-day moving average price of $2,102.64. AutoZone has a 12 month low of $1,634.34 and a 12 month high of $2,362.24.

Insider Activity

In other news, VP Domingo Hurtado sold 395 shares of the company's stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $2,217.53, for a total transaction of $875,924.35. Following the transaction, the vice president now owns 362 shares in the company, valued at $802,745.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO William C. Rhodes III sold 2,958 shares of the stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $2,206.33, for a total value of $6,526,324.14. Following the transaction, the chief executive officer now owns 15,935 shares in the company, valued at approximately $35,157,868.55. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Domingo Hurtado sold 395 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total transaction of $875,924.35. Following the completion of the transaction, the vice president now owns 362 shares in the company, valued at approximately $802,745.86. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On AutoZone

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in AutoZone by 1.1% in the 4th quarter. BlackRock Inc. now owns 1,513,879 shares of the company's stock worth $3,173,680,000 after buying an additional 15,922 shares during the period. JPMorgan Chase & Co. boosted its position in AutoZone by 6.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,262,333 shares of the company's stock worth $2,712,904,000 after purchasing an additional 73,582 shares in the last quarter. Boston Partners boosted its position in AutoZone by 2.7% in the 1st quarter. Boston Partners now owns 737,596 shares of the company's stock worth $1,509,438,000 after purchasing an additional 19,083 shares in the last quarter. Royal Bank of Canada boosted its position in AutoZone by 368.0% in the 1st quarter. Royal Bank of Canada now owns 411,450 shares of the company's stock worth $841,242,000 after purchasing an additional 323,536 shares in the last quarter. Finally, Invesco Ltd. boosted its position in AutoZone by 24.3% in the 1st quarter. Invesco Ltd. now owns 224,279 shares of the company's stock worth $458,557,000 after purchasing an additional 43,840 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company's stock.

AutoZone Company Profile

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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, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

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