AutoZone (NYSE:AZO) Price Target Raised to $3,585.00

AutoZone (NYSE:AZO) had its target price hoisted by Barclays from $3,024.00 to $3,585.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Truist Financial raised their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. UBS Group lifted their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Evercore ISI increased their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Stock Performance

NYSE AZO opened at $3,301.99 on Thursday. The company’s 50-day simple moving average is $3,207.04 and its two-hundred day simple moving average is $3,120.68. AutoZone has a one year low of $2,510.00 and a one year high of $3,416.71. The company has a market capitalization of $55.41 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $32.55 EPS. Equities analysts expect that AutoZone will post 154.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AZO. Private Advisor Group LLC lifted its holdings in shares of AutoZone by 4.4% in the 2nd quarter. Private Advisor Group LLC now owns 614 shares of the company’s stock valued at $1,820,000 after buying an additional 26 shares during the period. Acadian Asset Management LLC lifted its holdings in AutoZone by 24.3% in the second quarter. Acadian Asset Management LLC now owns 1,809 shares of the company’s stock valued at $5,356,000 after acquiring an additional 354 shares during the period. Choreo LLC boosted its position in AutoZone by 163.2% in the 2nd quarter. Choreo LLC now owns 508 shares of the company’s stock worth $1,443,000 after purchasing an additional 315 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of AutoZone by 2.3% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 266 shares of the company’s stock worth $788,000 after purchasing an additional 6 shares during the period. Finally, Royal London Asset Management Ltd. increased its holdings in shares of AutoZone by 1.4% during the 2nd quarter. Royal London Asset Management Ltd. now owns 7,929 shares of the company’s stock valued at $23,502,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other 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.