Analysts Set AutoZone, Inc. (NYSE:AZO) Price Target at $3,429.84

Shares of AutoZone, Inc. (NYSE:AZO) have been given an average recommendation of “Moderate Buy” by the twenty-two brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $3,429.84.

A number of equities research analysts recently weighed in on AZO shares. Mizuho raised their target price on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Guggenheim raised their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Argus upped their target price on shares of AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Truist Financial increased their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Barclays lifted their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th.

Institutional Trading of AutoZone

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after purchasing an additional 993,139 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of AutoZone by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after purchasing an additional 7,365 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of AutoZone by 482,040.2% in the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after purchasing an additional 419,375 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in AutoZone by 5.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company’s stock worth $1,039,421,000 after buying an additional 17,518 shares during the last quarter. Finally, Norges Bank acquired a new position in AutoZone during the 4th quarter valued at about $834,556,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

AZO opened at $3,385.86 on Friday. The firm has a market cap of $56.81 billion, a P/E ratio of 22.62, a PEG ratio of 1.92 and a beta of 0.70. AutoZone has a fifty-two week low of $2,680.96 and a fifty-two week high of $3,484.42. The firm has a 50-day moving average of $3,318.59 and a 200 day moving average of $3,200.28.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). The company had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $32.55 EPS. Equities research analysts predict that AutoZone will post 152.94 earnings per share for the current fiscal year.

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.