BMO Capital Markets Issues Positive Forecast for AutoZone (NYSE:AZO) Stock Price

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

A number of other equities analysts have also recently issued reports on the stock. Citigroup lifted their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Evercore ISI lifted their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. TD Cowen lifted their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Barclays boosted their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Finally, Mizuho boosted their target price on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,646.62.

AutoZone Stock Up 2.8 %

Shares of NYSE AZO opened at $3,569.49 on Wednesday. AutoZone has a 52 week low of $2,728.97 and a 52 week high of $3,570.50. The firm has a 50-day moving average price of $3,351.07 and a 200 day moving average price of $3,223.79. The stock has a market capitalization of $59.90 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced 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). The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Equities research analysts expect that AutoZone will post 152.94 EPS for the current fiscal year.

Institutional Trading of AutoZone

A number of institutional investors and hedge funds have recently bought and sold shares of AZO. Farther Finance Advisors LLC increased its position in AutoZone by 29.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 75 shares of the company’s stock worth $236,000 after purchasing an additional 17 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in AutoZone by 2.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 6,813 shares of the company’s stock valued at $21,461,000 after purchasing an additional 131 shares in the last quarter. QRG Capital Management Inc. grew its position in AutoZone by 12.0% in the third quarter. QRG Capital Management Inc. now owns 326 shares of the company’s stock valued at $1,027,000 after acquiring an additional 35 shares in the last quarter. Moloney Securities Asset Management LLC grew its position 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 in the last quarter. Finally, Pittenger & Anderson Inc. grew its position 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 in 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.