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Wells Fargo Reiterates a Buy Rating on AutoZone (AZO)

Wells Fargo analyst Zachary Fadem reiterated a Buy rating on AutoZone (AZOResearch Report) today and set a price target of $2350.00. The company’s shares closed last Tuesday at $1826.34.

According to TipRanks.com, Fadem is a 5-star analyst with an average return of 19.9% and a 64.1% success rate. Fadem covers the Consumer Goods sector, focusing on stocks such as Petco Health and Wellness Company, National Vision Holdings, and Floor & Decor Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AutoZone with a $2222.93 average price target.

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Based on AutoZone’s latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $3.67 billion and net profit of $555 million. In comparison, last year the company earned revenue of $3.15 billion and had a net profit of $442 million.

Based on the recent corporate insider activity of 62 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 December 2021, William C. Rhodes, the COB, Pres & CEO of AZO sold 17,400 shares for a total of $33,284,204.

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.

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