Wells Fargo Sticks to Their Buy Rating for AutoZone (AZO)

By Carrie Williams

In a report issued on July 20, Zachary Fadem from Wells Fargo maintained a Buy rating on AutoZone (AZOResearch Report), with a price target of $1300.00. The company’s shares closed last Monday at $1170.80.

According to TipRanks.com, Fadem is a top 100 analyst with an average return of 26.8% and a 79.0% success rate. Fadem covers the Consumer Goods sector, focusing on stocks such as National Vision Holdings, Floor & Decor Holdings, and Advance Auto Parts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for AutoZone with a $1282.73 average price target, a 9.7% upside from current levels. In a report issued on July 14, Nomura also maintained a Buy rating on the stock with a $1290.00 price target.

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The company has a one-year high of $1274.41 and a one-year low of $684.91. Currently, AutoZone has an average volume of 226.7K.

Based on the recent corporate insider activity of 47 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. Last month, Kristen Wright, the Sr. VP, Sec. & Gen Counsel of AZO sold 1,890 shares for a total of $2,154,600.

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 retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry. The company was founded by Joseph R. Hyde, III on July 4, 1979 and is headquartered in Memphis, TN.