AutoZone (NYSE:AZO) Price Target Raised to $4,000.00 at Raymond James

AutoZone (NYSE:AZO) had its price objective lifted by Raymond James from $3,850.00 to $4,000.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a strong-buy rating on the stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company lifted their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Evercore ISI upped their price target on shares of AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays upped their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Finally, Mizuho lifted their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus target price of $3,646.62.

AutoZone Stock Up 2.8 %

Shares of NYSE AZO opened at $3,569.49 on Wednesday. The firm’s 50-day moving average price is $3,351.07 and its 200-day moving average price is $3,223.79. AutoZone has a 52-week low of $2,728.97 and a 52-week high of $3,570.50. The company has a market cap of $59.90 billion, a PE ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71.

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

Institutional Investors Weigh In On AutoZone

Hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in AutoZone in the 4th quarter worth approximately $29,000. Flagship Wealth Advisors LLC bought a new stake in AutoZone in the fourth quarter worth $32,000. Harbour Investments Inc. raised its stake in 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 purchasing an additional 3 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of AutoZone in the 3rd quarter worth $36,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of AutoZone in the 4th quarter worth about $45,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

About AutoZone

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.