AutoZone (NYSE:AZO) Price Target Lowered to $3,350.00 at Evercore ISI

AutoZone (NYSE:AZO) had its price objective trimmed by Evercore ISI from $3,900.00 to $3,350.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts also recently issued reports on the company. Oppenheimer reiterated a market perform rating and issued a $2,600.00 price objective on shares of AutoZone in a research report on Wednesday, June 26th. Wedbush reaffirmed an outperform rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Barclays decreased their price target on shares of AutoZone from $3,100.00 to $3,024.00 and set an overweight rating on the stock in a research note on Thursday, May 23rd. Guggenheim boosted their target price on AutoZone from $3,150.00 to $3,225.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. Finally, StockNews.com upgraded AutoZone from a hold rating to a buy rating in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AutoZone has a consensus rating of Moderate Buy and an average target price of $3,129.44.

AutoZone Stock Up 1.0 %

NYSE:AZO opened at $3,051.22 on Friday. The firm has a market cap of $52.12 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. AutoZone has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The company’s 50-day moving average price is $3,107.86 and its two-hundred day moving average price is $3,009.58.

Institutional Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PineStone Asset Management Inc. grew its position in shares of AutoZone by 137.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after acquiring an additional 179,543 shares during the period. Strategic Financial Concepts LLC bought a new position in AutoZone during the second quarter worth about $424,000. Captrust Financial Advisors increased its position in AutoZone by 564.2% during the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after buying an additional 129,193 shares during the last quarter. Baillie Gifford & Co. raised its stake in AutoZone by 2,714.8% in the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after acquiring an additional 115,924 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in AutoZone by 106.7% during the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock valued at $371,552,000 after purchasing an additional 60,852 shares during the last quarter. 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.