Evercore ISI Raises AutoZone (NYSE:AZO) Price Target to $3,700.00

AutoZone (NYSE:AZO) had its target price raised by investment analysts at Evercore ISI from $3,525.00 to $3,700.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target indicates a potential upside of 5.77% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on AZO. Wells Fargo & Company increased their price target on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Guggenheim upped their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research note on Wednesday. Mizuho raised their price objective on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Argus cut AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,529.58.

AutoZone Stock Performance

NYSE AZO traded up $24.61 during trading hours on Wednesday, hitting $3,498.27. 24,307 shares of the company traded hands, compared to its average volume of 107,895. The stock has a market capitalization of $58.71 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 1.86 and a beta of 0.70. AutoZone has a twelve month low of $2,728.97 and a twelve month high of $3,563.57. The business’s 50-day moving average is $3,345.35 and its 200-day moving average is $3,221.36.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Analysts predict that AutoZone will post 152.94 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AZO. Pittenger & Anderson Inc. lifted its position in AutoZone by 5.2% in the 4th quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock valued at $195,000 after acquiring an additional 3 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its holdings in AutoZone by 2.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company’s stock worth $487,000 after buying an additional 3 shares in the last quarter. PDS Planning Inc raised its position in AutoZone by 2.3% in the 4th quarter. PDS Planning Inc now owns 132 shares of the company’s stock valued at $423,000 after buying an additional 3 shares during the last quarter. Harbour Investments Inc. lifted its stake in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after acquiring an additional 3 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings in AutoZone by 0.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 371 shares of the company’s stock worth $1,188,000 after acquiring an additional 3 shares during the last quarter. 92.74% of the stock is currently 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.