Guggenheim Issues Positive Forecast for AutoZone (NYSE:AZO) Stock Price

AutoZone (NYSE:AZO) had its price objective hoisted by Guggenheim from $3,750.00 to $3,850.00 in a research note released on Wednesday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other brokerages have also recently commented on AZO. JPMorgan Chase & Co. raised their price objective on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a report on Wednesday. TD Cowen lifted their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a report on Monday, December 16th. Argus cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Truist Financial lifted their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $3,646.62.

AutoZone Trading Up 2.8 %

NYSE:AZO opened at $3,569.49 on Wednesday. The stock has a market capitalization of $59.90 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71. The firm has a fifty day simple moving average of $3,351.07 and a two-hundred day simple moving average of $3,223.79. AutoZone has a 12 month low of $2,728.97 and a 12 month high of $3,570.50.

AutoZone (NYSE:AZO) last posted 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). 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 during the quarter, compared to analyst estimates of $3.98 billion. Equities analysts predict that AutoZone will post 152.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AutoZone

Several institutional investors have recently bought and sold shares of the company. Siemens Fonds Invest GmbH lifted its stake in AutoZone by 630.1% in the fourth quarter. Siemens Fonds Invest GmbH now owns 1,577 shares of the company’s stock valued at $5,050,000 after purchasing an additional 1,361 shares during the last quarter. Menard Financial Group LLC purchased a new position in AutoZone in the fourth quarter valued at approximately $157,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in AutoZone during the fourth quarter valued at about $95,480,000. B. Riley Wealth Advisors Inc. lifted its holdings in AutoZone by 1.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 1,219 shares of the company’s stock valued at $3,903,000 after purchasing an additional 13 shares during the last quarter. Finally, Cypress Asset Management Inc. TX purchased a new stake in shares of AutoZone during the fourth quarter worth $208,000. Hedge funds and other 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.