AutoZone (NYSE:AZO) Price Target Raised to $3,763.00 at Roth Mkm

AutoZone (NYSE:AZO) had its price objective upped by stock analysts at Roth Mkm from $3,634.00 to $3,763.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s target price would indicate a potential upside of 6.72% from the company’s previous close.

A number of other research firms have also commented on AZO. Citigroup raised their price target on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Wedbush restated an “outperform” rating and set a $3,700.00 target price on shares of AutoZone in a report on Wednesday. Morgan Stanley upped their price target on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday. BMO Capital Markets raised their price objective on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Barclays boosted their price objective on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $3,608.30.

AutoZone Stock Performance

Shares of AZO stock traded up $52.30 during trading hours on Wednesday, hitting $3,525.96. The company had a trading volume of 41,261 shares, compared to its average volume of 108,576. The firm’s fifty day moving average is $3,345.35 and its 200 day moving average is $3,221.36. The firm has a market capitalization of $59.17 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.86 and a beta of 0.70. AutoZone has a 12 month low of $2,728.97 and a 12 month high of $3,563.57.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The company 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%. On average, sell-side analysts expect that AutoZone will post 152.94 EPS for the current fiscal year.

Institutional Trading of AutoZone

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of AutoZone by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after acquiring an additional 7,365 shares during the last quarter. Proficio Capital Partners LLC boosted its position in AutoZone by 482,040.2% during the fourth 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 during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of AutoZone by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company’s stock valued at $1,039,421,000 after purchasing an additional 17,518 shares during the last quarter. Norges Bank bought a new position in shares of AutoZone in the fourth quarter valued at about $834,556,000. Finally, PineStone Asset Management Inc. lifted its stake in shares of AutoZone by 6.9% during the 4th quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock worth $683,867,000 after buying an additional 13,771 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

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.