Wells Fargo Believes AutoZone (NYSE: AZO) Won’t Stop Here

Wells Fargo analyst Zachary Fadem maintained a Buy rating on AutoZone (AZOResearch Report) today and set a price target of $1250. The company’s shares closed yesterday at $1128.20, close to its 52-week high of $1135.39.

According to TipRanks.com, Fadem is a 5-star analyst with an average return of 10.4% and a 68.8% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Floor & Decor Holdings Inc, and Advance Auto Parts.

Currently, the analyst consensus on AutoZone is a Strong Buy with an average price target of $1150.13.

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Based on AutoZone’s latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $406 million. In comparison, last year the company had a net profit of $367 million.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock.

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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.