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

AutoZone (NYSE:AZO) had its price objective boosted by Wells Fargo & Company from $3,750.00 to $3,850.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a research report on Wednesday. Argus cut AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday. TD Cowen lifted their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. DA Davidson upped their target price on AutoZone from $3,350.00 to $3,500.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $3,646.62.

AutoZone Stock Up 2.8 %

AZO opened at $3,569.49 on Wednesday. The stock’s 50 day moving average price is $3,351.07 and its two-hundred day moving average price is $3,223.79. The firm has a market capitalization of $59.90 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. AutoZone has a 12-month low of $2,728.97 and a 12-month high of $3,570.50.

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

Institutional Investors Weigh In On AutoZone

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZO. Pittenger & Anderson Inc. grew its stake in shares of AutoZone by 5.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock valued at $195,000 after purchasing an additional 3 shares during the last quarter. Sound View Wealth Advisors Group LLC lifted its holdings in AutoZone by 2.0% during the 4th 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 boosted 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. increased its stake in shares of AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after buying an additional 3 shares during the period. Finally, Meeder Advisory Services Inc. raised its position in shares of AutoZone by 0.8% during the fourth 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. Institutional investors and hedge funds 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.