Morgan Stanley Raises AutoZone (NYSE:AZO) Price Target to $3,750.00

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

AZO has been the topic of several other reports. Mizuho upped their target price 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. TD Cowen upped their target price on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a report on Monday, December 16th. 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. Guggenheim increased their price target on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Truist Financial increased their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3,485.11.

AutoZone Stock Performance

AutoZone stock opened at $3,485.50 on Wednesday. The company’s 50 day simple moving average is $3,345.35 and its 200-day simple moving average is $3,221.36. The company has a market capitalization of $58.49 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. 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 earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share 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%. Equities analysts expect that AutoZone will post 152.94 earnings per share for the current year.

Institutional Investors Weigh In On AutoZone

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in shares of AutoZone during the 4th quarter worth about $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone during the 4th quarter worth about $32,000. Harbour Investments Inc. boosted its stake in shares of AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of AutoZone during the 3rd quarter worth about $36,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of AutoZone during the 4th quarter worth about $45,000. 92.74% of the stock is owned by institutional investors and hedge funds.

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.