AutoZone (NYSE:AZO) Price Target Raised to $3,750.00

AutoZone (NYSE:AZO) had its price objective lifted by Morgan Stanley from $3,490.00 to $3,750.00 in a research report report published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the company. Evercore ISI lifted their price target on AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. BMO Capital Markets started coverage on AutoZone in a research report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price target on the stock. Argus lowered AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday. Guggenheim upped their price target on AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Barclays upped their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $3,646.62.

AutoZone Price Performance

NYSE:AZO opened at $3,620.28 on Wednesday. AutoZone has a 1-year low of $2,728.97 and a 1-year high of $3,636.96. The firm’s fifty day moving average price is $3,365.96 and its 200 day moving average price is $3,229.56. The firm has a market cap of $60.76 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71.

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

Insider Buying and Selling at AutoZone

In other news, SVP Bailey L. Childress sold 160 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the transaction, the senior vice president now owns 50 shares in the company, valued at $177,500. The trade was a 76.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On AutoZone

A number of hedge funds and other institutional investors have recently modified their holdings of AZO. Farther Finance Advisors LLC lifted its stake in AutoZone by 29.3% in the third quarter. Farther Finance Advisors LLC now owns 75 shares of the company’s stock valued at $236,000 after purchasing an additional 17 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of AutoZone by 2.0% in the third quarter. Asset Management One Co. Ltd. now owns 6,813 shares of the company’s stock worth $21,461,000 after purchasing an additional 131 shares during the period. QRG Capital Management Inc. increased its holdings in shares of AutoZone by 12.0% in the third quarter. QRG Capital Management Inc. now owns 326 shares of the company’s stock worth $1,027,000 after purchasing an additional 35 shares during the period. Moloney Securities Asset Management LLC increased its stake in AutoZone by 21.3% in the third quarter. Moloney Securities Asset Management LLC now owns 285 shares of the company’s stock valued at $898,000 after acquiring an additional 50 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its stake in AutoZone by 9.4% in the third quarter. Pittenger & Anderson Inc. now owns 58 shares of the company’s stock valued at $183,000 after acquiring an additional 5 shares during the last quarter. Hedge funds and other institutional investors 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.