In a report released today, Bobby Griffin from Raymond James maintained a Buy rating on AutoZone (AZO). The company’s shares closed last Tuesday at $1420.56.
According to TipRanks.com, Griffin is a 5-star analyst with an average return of 36.6% and a 78.9% success rate. Griffin covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Advance Auto Parts, and Bed Bath & Beyond.
Currently, the analyst consensus on AutoZone is a Moderate Buy with an average price target of $1588.46, implying a 9.3% upside from current levels. In a report issued on May 13, Wells Fargo also assigned a Buy rating to the stock with a $1700.00 price target.
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Based on AutoZone’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $2.91 billion and net profit of $346 million. In comparison, last year the company earned revenue of $2.51 billion and had a net profit of $299 million.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AZO in relation to earlier this year. Most recently, in March 2021, Ronald Griffin, the Sr. VP & CIO of AZO sold 7,600 shares for a total of $10,631,360.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Incorporated in 1979, Tennessee-based AutoZone, Inc. retails and distributes automotive replacement parts and accessories.
