AutoZone (NYSE:AZO) PT Raised to $3,350.00

AutoZone (NYSE:AZO) had its price objective increased by analysts at Guggenheim from $3,225.00 to $3,350.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 4.96% from the stock’s previous close.

Several other research firms have also recently commented on AZO. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. Oppenheimer reissued a “market perform” rating and set a $2,600.00 price objective on shares of AutoZone in a report on Wednesday, June 26th. Truist Financial reduced their target price on shares of AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Evercore ISI dropped their price target on shares of AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,169.38.

AutoZone Stock Up 2.7 %

AutoZone stock opened at $3,191.56 on Wednesday. AutoZone has a 12-month low of $2,375.35 and a 12-month high of $3,256.37. The stock has a 50-day simple moving average of $3,111.58 and a 200 day simple moving average of $3,010.06. The stock has a market capitalization of $54.51 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 1.43 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. AutoZone’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $46.46 earnings per share. As a group, sell-side analysts anticipate that AutoZone will post 151.08 EPS for the current year.

Institutional Trading of AutoZone

A number of large investors have recently made changes to their positions in AZO. Boston Partners grew its stake in AutoZone by 1.7% in the first quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after acquiring an additional 6,226 shares during the period. PineStone Asset Management Inc. lifted its holdings in shares of AutoZone by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after purchasing an additional 179,543 shares in the last quarter. Parnassus Investments LLC grew its position in shares of AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after purchasing an additional 58,989 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in AutoZone by 11.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock worth $550,296,000 after purchasing an additional 22,507 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in AutoZone by 4.1% during the 1st quarter. Nordea Investment Management AB now owns 203,072 shares of the company’s stock worth $643,641,000 after buying an additional 7,988 shares during the period. 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.