AutoZone (NYSE:AZO) Upgraded at StockNews.com

StockNews.com upgraded shares of AutoZone (NYSE:AZO) from a hold rating to a buy rating in a report published on Friday.

A number of other research firms have also issued reports on AZO. Morgan Stanley dropped their price target on AutoZone from $3,100.00 to $3,038.00 and set an overweight rating for the company in a research report on Wednesday, May 22nd. Barclays reduced their price objective on AutoZone from $3,100.00 to $3,024.00 and set an overweight rating on the stock in a research note on Thursday, May 23rd. Wedbush reissued an outperform rating and issued a $3,200.00 target price on shares of AutoZone in a report on Wednesday, July 10th. Oppenheimer reaffirmed a market perform rating and set a $2,600.00 price objective on shares of AutoZone in a report on Wednesday, June 26th. Finally, Evercore ISI lowered their price target on AutoZone from $3,278.00 to $3,275.00 and set an outperform rating on the stock in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $3,112.71.

AutoZone Trading Up 0.6 %

NYSE:AZO opened at $3,123.36 on Friday. AutoZone has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The stock has a 50 day moving average of $3,085.95 and a two-hundred day moving average of $3,010.20. The firm has a market cap of $53.36 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71.

Institutional Investors Weigh In On AutoZone

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZO. Boston Partners increased its holdings in AutoZone by 1.7% in the first quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after purchasing an additional 6,226 shares during the last quarter. PineStone Asset Management Inc. lifted its stake in AutoZone by 137.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after acquiring an additional 179,543 shares in the last quarter. Norges Bank acquired a new position in AutoZone during the 4th quarter worth approximately $678,350,000. Parnassus Investments LLC grew its position in AutoZone by 32.0% in the fourth quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after purchasing an additional 58,989 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in AutoZone by 11.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock valued at $550,296,000 after buying an additional 22,507 shares during the last quarter. Institutional investors and hedge funds 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.