AutoZone (NYSE:AZO) Receives Outperform Rating from Wedbush

AutoZone (NYSE:AZO)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $3,700.00 price target on the stock. Wedbush’s price objective points to a potential upside of 5.54% from the company’s current price.

AZO has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a research note on Wednesday. Guggenheim increased their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho raised their price target on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a research note on Wednesday. DA Davidson upped their price objective on AutoZone from $3,350.00 to $3,500.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,601.85.

AutoZone Stock Performance

AutoZone stock traded up $32.01 during midday trading on Wednesday, reaching $3,505.67. The stock had a trading volume of 35,467 shares, compared to its average volume of 108,453. The stock has a market capitalization of $58.83 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. The firm’s fifty day simple moving average is $3,345.35 and its 200-day simple moving average is $3,221.36. AutoZone has a 1-year low of $2,728.97 and a 1-year high of $3,563.57.

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). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. On average, sell-side analysts anticipate that AutoZone will post 152.94 earnings per share for the current fiscal year.

Institutional Trading of AutoZone

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