Elm3 Financial Group LLC Buys New Shares in AutoZone, Inc. (NYSE:AZO)

Elm3 Financial Group LLC purchased a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 140 shares of the company’s stock, valued at approximately $448,000.

A number of other large investors have also recently added to or reduced their stakes in AZO. Capital Performance Advisors LLP bought a new stake in shares of AutoZone in the 3rd quarter valued at about $36,000. Carolina Wealth Advisors LLC acquired a new position in AutoZone during the third quarter worth approximately $47,000. Darwin Wealth Management LLC bought a new stake in AutoZone in the third quarter valued at approximately $47,000. Crews Bank & Trust acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $61,000. Finally, McIlrath & Eck LLC boosted its stake in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after acquiring an additional 4 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup upped their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Roth Mkm reiterated a “buy” rating and set a $3,634.00 price objective on shares of AutoZone in a research report on Wednesday, October 16th. TD Cowen boosted their target price on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Truist Financial raised their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Argus boosted their price objective on shares of AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,478.43 on Thursday. AutoZone, Inc. has a 52 week low of $2,672.31 and a 52 week high of $3,481.36. The firm has a market cap of $58.37 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.85 and a beta of 0.70. The firm’s fifty day moving average is $3,275.98 and its 200-day moving average is $3,174.59.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $32.55 earnings per share. Sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone Company Profile

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.