AutoZone (NYSE:AZO) Price Target Raised to $3,850.00

AutoZone (NYSE:AZO) had its price target increased by BMO Capital Markets from $3,700.00 to $3,850.00 in a research report report published on Wednesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on AZO. Mizuho lifted their price target on AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research note on Wednesday. Evercore ISI lifted their price target on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Argus downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup boosted their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company raised their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3,646.62.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,569.49 on Wednesday. The business has a 50-day moving average of $3,351.07 and a 200-day moving average of $3,223.79. The company has a market capitalization of $59.90 billion, a PE ratio of 23.85, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone has a 1-year low of $2,728.97 and a 1-year high of $3,570.50.

AutoZone (NYSE:AZO) last released 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). 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 for the quarter, compared to analyst estimates of $3.98 billion. On average, equities analysts expect that AutoZone will post 152.94 earnings per share for the current fiscal year.

Institutional Trading of AutoZone

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC raised its stake 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 buying an additional 419,375 shares in the last quarter. Norges Bank bought a new stake in shares of AutoZone in the 4th quarter worth $834,556,000. Strategic Financial Concepts LLC bought a new stake in shares of AutoZone in the 4th quarter worth $471,629,000. Wealthfront Advisers LLC raised its holdings in shares of AutoZone by 6,083.9% in the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock worth $290,281,000 after purchasing an additional 89,190 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of AutoZone by 82.6% in the 4th quarter. Barclays PLC now owns 170,216 shares of the company’s stock worth $545,033,000 after purchasing an additional 77,015 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

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.