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Richard Craig Smith, Senior Vice President at AutoZone Inc. (NYSE:AZO), recently sold a significant portion of the company’s common stock. According to a recent SEC filing, Smith sold 2,850 shares on March 20 at a price of $3,610 per share, totaling approximately $10.3 million. The transaction comes as AutoZone, with its $60.4 billion market cap, trades near its 52-week high and above its InvestingPro Fair Value.
In addition to the sale, Smith exercised options to acquire 2,850 shares at prices ranging from $744.62 to $761.30 per share. These transactions resulted in a total acquisition value of approximately $2.1 million. The stock has demonstrated low price volatility and delivered strong returns over the past five years, trading at a P/E ratio of 23.5.
Following these transactions, Smith’s direct ownership now stands at 2,924 shares. Want deeper insights into insider trading patterns and 11 additional exclusive ProTips? Access the comprehensive AutoZone InvestingPro Research Report for expert analysis.
In other recent news, AutoZone has seen a flurry of activity with several firms adjusting their outlook on the company’s stock. DA Davidson upgraded AutoZone from Neutral to Buy, raising the price target significantly to $4,192. This upgrade reflects a positive outlook based on the company’s strong market position and potential benefits from economic factors like inflation and tariffs. Erste Group also initiated coverage with a Buy rating, highlighting AutoZone’s strong operating margins and international expansion as key drivers for future growth.
UBS analyst Michael Lasser raised the price target for AutoZone to $4,025, maintaining a Buy rating. Lasser noted that AutoZone’s strategic growth initiatives are expected to drive market share gains and consistent earnings growth. Meanwhile, TD Cowen increased their price target to $3,900, emphasizing the company’s improvements in the Do-It-For-Me segment and its strategic investments in the professional auto service sector.
Truist Securities raised its price target to $3,841, citing improvements in domestic sales trends and commercial sales growth. The firm believes that tariffs could lead to increased inflation on certain products, potentially boosting comparable sales. These developments collectively suggest a strong confidence among analysts in AutoZone’s growth prospects and strategic direction.
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