Drive Wealth Management LLC Boosts Stock Position in AutoZone, Inc. (NYSE:AZO)

Drive Wealth Management LLC boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91 shares of the company’s stock after buying an additional 5 shares during the quarter. Drive Wealth Management LLC’s holdings in AutoZone were worth $291,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in AutoZone in the third quarter valued at $36,000. Carolina Wealth Advisors LLC purchased a new position in AutoZone in the third quarter valued at $47,000. Darwin Wealth Management LLC purchased a new position in AutoZone in the third quarter valued at $47,000. McIlrath & Eck LLC increased its holdings in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after buying an additional 4 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in AutoZone in the third quarter valued at $66,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 1.1 %

Shares of NYSE:AZO opened at $3,370.37 on Tuesday. The company has a market cap of $56.55 billion, a P/E ratio of 22.52, a PEG ratio of 1.84 and a beta of 0.71. AutoZone, Inc. has a 52 week low of $2,672.31 and a 52 week high of $3,437.63. The company has a 50-day moving average price of $3,238.73 and a 200 day moving average price of $3,153.35.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the business earned $32.55 EPS. AutoZone’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AZO shares. Barclays raised their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Roth Capital raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. DA Davidson reaffirmed a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. Finally, Guggenheim raised their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $3,429.84.

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.