AutoZone (NYSE:AZO) Price Target Raised to $4,000.00

AutoZone (NYSE:AZO) had its price target boosted by analysts at Raymond James from $3,850.00 to $4,000.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ target price would suggest a potential upside of 14.10% from the stock’s current price.

Other research analysts have also issued research reports about the company. BMO Capital Markets raised their price objective on AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays raised their price target on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. TD Cowen increased their target price on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. raised their target price on shares of AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Mizuho upped their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3,601.85.

AutoZone Trading Up 0.9 %

AZO traded up $32.01 on Wednesday, hitting $3,505.67. 35,467 shares of the company’s stock traded hands, compared to its average volume of 108,453. The company’s 50 day simple moving average is $3,345.35 and its 200-day simple moving average is $3,221.36. AutoZone has a one year low of $2,728.97 and a one year high of $3,563.57. The firm has a market cap of $58.83 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 1.86 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 4th. The company reported $28.29 EPS 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%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. As a group, equities analysts anticipate that AutoZone will post 152.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in AutoZone during the fourth quarter valued at about $29,000. Flagship Wealth Advisors LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at about $32,000. Harbour Investments Inc. boosted its holdings in shares of AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after buying an additional 3 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of AutoZone in the 3rd quarter worth approximately $36,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of AutoZone during the 4th quarter worth approximately $45,000. 92.74% of the stock is 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.