Avestar Capital LLC Buys 6 Shares of AutoZone, Inc. (NYSE:AZO)

Avestar Capital LLC boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 452 shares of the company’s stock after acquiring an additional 6 shares during the period. Avestar Capital LLC’s holdings in AutoZone were worth $1,447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZO. CWM LLC increased its position in shares of AutoZone by 27.2% in the third quarter. CWM LLC now owns 435 shares of the company’s stock worth $1,371,000 after purchasing an additional 93 shares during the period. CX Institutional increased its holdings in AutoZone by 3.7% in the 3rd quarter. CX Institutional now owns 198 shares of the company’s stock valued at $624,000 after buying an additional 7 shares during the period. Creative Planning increased its holdings in AutoZone by 4.0% in the 3rd quarter. Creative Planning now owns 2,519 shares of the company’s stock valued at $7,933,000 after buying an additional 97 shares during the period. Swedbank AB raised its position in shares of AutoZone by 0.6% in the 3rd quarter. Swedbank AB now owns 16,617 shares of the company’s stock valued at $52,344,000 after buying an additional 93 shares in the last quarter. Finally, Petredis Investment Advisors LLC lifted its holdings in shares of AutoZone by 0.6% during the 3rd quarter. Petredis Investment Advisors LLC now owns 710 shares of the company’s stock worth $2,237,000 after acquiring an additional 4 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Performance

Shares of AZO opened at $3,435.93 on Thursday. The firm has a market cap of $57.65 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 1.92 and a beta of 0.70. AutoZone, Inc. has a 52-week low of $2,680.96 and a 52-week high of $3,484.42. The business’s 50 day moving average price is $3,307.21 and its two-hundred day moving average price is $3,192.41.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $32.55 EPS. Research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Guggenheim boosted their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Barclays boosted their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Roth Mkm reaffirmed a “buy” rating and issued a $3,634.00 price objective on shares of AutoZone in a research note on Wednesday, October 16th. TD Cowen boosted their target price on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Wells Fargo & Company increased their target price on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average target price of $3,429.84.

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.