AutoZone (NYSE:AZO) Stock Price Expected to Rise, Morgan Stanley Analyst Says

AutoZone (NYSE:AZO) had its target price boosted by equities research analysts at Morgan Stanley from $3,490.00 to $3,750.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 7.59% from the stock’s current price.

A number of other equities analysts have also issued reports on AZO. Barclays raised their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Citigroup lifted their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. BMO Capital Markets initiated coverage on shares of AutoZone in a research report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Mizuho increased their price objective on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus target price of $3,485.11.

AutoZone Trading Up 0.2 %

NYSE AZO opened at $3,485.50 on Wednesday. The company’s 50-day moving average price is $3,345.35 and its 200-day moving average price is $3,221.36. The stock has a market cap of $58.49 billion, a PE ratio of 23.29, a PEG ratio of 1.86 and a beta of 0.70. AutoZone has a 12 month low of $2,728.97 and a 12 month high of $3,563.57.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, sell-side analysts forecast that AutoZone will post 152.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of AutoZone in the 4th quarter worth about $29,000. Flagship Wealth Advisors LLC acquired a new stake in AutoZone in the fourth quarter valued at approximately $32,000. Harbour Investments Inc. raised its holdings in shares of AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after buying an additional 3 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of AutoZone during the third quarter worth $36,000. Finally, Minot DeBlois Advisors LLC purchased a new position in AutoZone in the fourth quarter valued at $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.