AutoZone (NYSE:AZO) Price Target Raised to $3,740.00

AutoZone (NYSE:AZO) had its price objective upped by Mizuho from $3,600.00 to $3,740.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms also recently issued reports on AZO. Citigroup lifted their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. BMO Capital Markets initiated coverage on shares of AutoZone in a research note on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price target for the company. Truist Financial boosted their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Argus cut shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have issued 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, AutoZone has an average rating of “Moderate Buy” and an average price target of $3,646.62.

AutoZone Trading Up 2.8 %

AutoZone stock opened at $3,569.49 on Wednesday. The firm has a 50 day simple moving average of $3,351.07 and a 200 day simple moving average of $3,223.79. AutoZone has a 1-year low of $2,728.97 and a 1-year high of $3,570.50. The firm has a market capitalization of $59.90 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.86 and a beta of 0.71.

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

Institutional Investors Weigh In On AutoZone

Institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $29,000. Flagship Wealth Advisors LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $32,000. Harbour Investments Inc. grew its holdings in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after buying an additional 3 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of AutoZone during the third quarter valued at approximately $36,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

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.