AutoZone (NYSE:AZO) Price Target Raised to $4,025.00

AutoZone (NYSE:AZO) had its price objective hoisted by research analysts at UBS Group from $3,875.00 to $4,025.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 12.76% from the company’s current price.

Several other brokerages have also issued reports on AZO. Roth Mkm boosted their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley upped their target price on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup raised their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price objective on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Raymond James increased their target price on AutoZone from $3,850.00 to $4,000.00 and gave the stock a “strong-buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3,646.62.

AutoZone Price Performance

Shares of NYSE AZO traded up $95.83 during mid-day trading on Wednesday, hitting $3,569.49. The company had a trading volume of 167,115 shares, compared to its average volume of 111,629. AutoZone has a 12 month low of $2,728.97 and a 12 month high of $3,570.50. The firm has a market cap of $59.90 billion, a P/E ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71. The business’s 50-day simple moving average is $3,345.35 and its 200-day simple moving average is $3,221.36.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. As a group, sell-side analysts predict that AutoZone will post 152.94 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AZO. Geode Capital Management LLC lifted its stake in shares of AutoZone by 1.8% during the third quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock valued at $1,326,545,000 after acquiring an additional 7,365 shares during the period. Proficio Capital Partners LLC raised its stake in shares of AutoZone by 482,040.2% during the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after buying an additional 419,375 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in AutoZone by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company’s stock valued at $1,039,421,000 after buying an additional 17,518 shares during the period. Norges Bank bought a new position in AutoZone in the fourth quarter valued at approximately $834,556,000. Finally, PineStone Asset Management Inc. lifted its stake in shares of AutoZone by 6.9% in the 4th quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock valued at $683,867,000 after purchasing an additional 13,771 shares during the period. 92.74% of the stock is currently owned by institutional investors.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.