AutoZone’s (AZO) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of AutoZone (NYSE:AZO) in a research note released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $3,700.00 price target on the stock.

Other analysts have also recently issued reports about the company. Mizuho boosted their price objective on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a research report on Wednesday. Evercore ISI boosted their price target on shares of AutoZone from $3,525.00 to $3,700.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup increased their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. DA Davidson boosted their target price on shares of AutoZone from $3,350.00 to $3,500.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Guggenheim upped their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,646.62.

AutoZone Stock Performance

NYSE AZO opened at $3,569.49 on Wednesday. AutoZone has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,570.50. The firm has a market capitalization of $59.90 billion, a P/E ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71. The stock has a 50-day simple moving average of $3,351.07 and a two-hundred day simple moving average of $3,223.79.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (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 firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. As a group, analysts forecast that AutoZone will post 152.94 earnings per share for the current year.

Hedge Funds Weigh In On AutoZone

Institutional investors and hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of AutoZone during the 4th quarter worth approximately $29,000. Flagship Wealth Advisors LLC acquired a new stake in AutoZone during the fourth quarter worth $32,000. Harbour Investments Inc. boosted its stake in AutoZone by 42.9% during 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 period. Capital Performance Advisors LLP acquired a new stake in shares of AutoZone during the third quarter valued at about $36,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of AutoZone in the 4th quarter valued at approximately $45,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

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.