Wedbush Reaffirms “Outperform” Rating for AutoZone (NYSE:AZO)

Wedbush reissued their outperform rating on shares of AutoZone (NYSE:AZO) in a research note published on Thursday, Benzinga reports. Wedbush currently has a $3,200.00 price objective on the stock. Wedbush also issued estimates for AutoZone’s Q4 2024 earnings at $52.64 EPS, FY2024 earnings at $150.77 EPS, Q1 2025 earnings at $34.98 EPS, Q2 2025 earnings at $31.41 EPS, Q3 2025 earnings at $40.16 EPS, Q4 2025 earnings at $55.46 EPS, FY2025 earnings at $161.91 EPS and FY2026 earnings at $179.91 EPS.

Other research analysts have also issued research reports about the stock. UBS Group lowered their price target on shares of AutoZone from $3,465.00 to $3,340.00 and set a buy rating for the company in a report on Wednesday, May 22nd. Citigroup lowered their price target on shares of AutoZone from $3,420.00 to $3,250.00 and set a buy rating for the company in a report on Wednesday, May 22nd. Oppenheimer reaffirmed a market perform rating and set a $2,600.00 price objective on shares of AutoZone in a research report on Wednesday, June 26th. Barclays reduced their price objective on shares of AutoZone from $3,100.00 to $3,024.00 and set an overweight rating for the company in a research report on Thursday, May 23rd. Finally, StockNews.com raised shares of AutoZone from a hold rating to a buy rating in a research report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $3,129.44.

AutoZone Stock Performance

AutoZone stock opened at $3,020.66 on Thursday. AutoZone has a 52-week low of $2,375.35 and a 52-week high of $3,256.37. The firm has a 50 day moving average price of $3,105.66 and a two-hundred day moving average price of $3,010.75. The firm has a market cap of $51.60 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.45 and a beta of 0.71.

Institutional Trading of AutoZone

Hedge funds have recently bought and sold shares of the business. PineStone Asset Management Inc. boosted its holdings in AutoZone by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock worth $918,998,000 after acquiring an additional 179,543 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in AutoZone during the 2nd quarter worth $424,000. Captrust Financial Advisors boosted its holdings in AutoZone by 564.2% during the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after acquiring an additional 129,193 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in AutoZone by 2,714.8% during the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after acquiring an additional 115,924 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in AutoZone by 106.7% during the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after acquiring an additional 60,852 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.