Wells Fargo & Company Raises AutoZone (NYSE:AZO) Price Target to $3,850.00

AutoZone (NYSE:AZO) had its price target raised by stock analysts at Wells Fargo & Company from $3,750.00 to $3,850.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 7.86% from the company’s current price.

Other research analysts also recently issued research reports about the company. Guggenheim increased their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a report on Wednesday. Roth Mkm lifted their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI increased their price objective on shares of AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research note on Wednesday. Mizuho lifted their price target on AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, DA Davidson boosted their price objective on AutoZone from $3,350.00 to $3,500.00 and gave the company a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $3,646.62.

AutoZone Price Performance

NYSE AZO traded up $95.83 during trading hours on Wednesday, hitting $3,569.49. The company had a trading volume of 167,115 shares, compared to its average volume of 111,629. The firm’s 50 day moving average is $3,345.35 and its 200 day moving average is $3,221.36. AutoZone has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,570.50. The company has a market capitalization of $59.90 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its quarterly 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 for the quarter, compared to analyst estimates of $3.98 billion. On average, equities analysts anticipate that AutoZone will post 152.94 EPS for the current year.

Institutional Trading of AutoZone

Large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in AutoZone during the fourth quarter valued at $29,000. Flagship Wealth Advisors LLC acquired a new position in shares of AutoZone during the 4th quarter worth $32,000. Harbour Investments Inc. lifted its position in shares of AutoZone by 42.9% in 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 last quarter. Capital Performance Advisors LLP bought a new position in AutoZone in the 3rd quarter worth $36,000. Finally, Minot DeBlois Advisors LLC bought a new stake in AutoZone during the 4th quarter valued at approximately $45,000. 92.74% of the stock is 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.