Wells Fargo Believes AutoZone (NYSE: AZO) Still Has Room to Grow

By Austin Angelo

Wells Fargo analyst Zachary Fadem maintained a Buy rating on AutoZone (AZOResearch Report) today and set a price target of $1140. The company’s shares opened today at $1007, close to its 52-week high of $1074.67.

According to TipRanks.com, Fadem is a 5-star analyst with an average return of 11.0% and a 68.0% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Floor & Decor Holdings Inc, and Michaels Companies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AutoZone with a $1069.69 average price target.

See today’s analyst top recommended stocks >>

AutoZone’s market cap is currently $24.4B and has a P/E ratio of 18.31. The company has a Price to Book ratio of -15.31.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. Last month, Earl G. Graves, a Director at AZO sold 250 shares for a total of $259,668.

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.

AutoZone, Inc. engages in the provision of retail and distribution of automotive replacement parts and accessories. It operates through the Auto Parts Locations and Other segments. The Auto Parts Locations segment provides automotive parts and accessories through the company’s stores in the U.S., Puerto Rico, Mexico, and Brazil.