AutoZone (NYSE:AZO) Price Target Raised to $3,585.00

AutoZone (NYSE:AZO) had its price target upped by equities researchers at Barclays from $3,024.00 to $3,585.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 8.57% from the stock’s previous close.

A number of other brokerages have also recently weighed in on AZO. Truist Financial boosted their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Evercore ISI boosted their target price on AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. DA Davidson restated a “neutral” rating and set a $3,025.00 price target on shares of AutoZone in a research note on Monday, September 30th. Argus boosted their price objective on AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Finally, Guggenheim raised their target price on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Stock Up 1.3 %

AZO stock traded up $42.08 during mid-day trading on Thursday, hitting $3,301.99. 82,250 shares of the company were exchanged, compared to its average volume of 117,290. AutoZone has a 12-month low of $2,510.00 and a 12-month high of $3,416.71. The firm has a market capitalization of $55.41 billion, a P/E ratio of 22.06, a PEG ratio of 1.73 and a beta of 0.71. The business has a fifty day simple moving average of $3,201.18 and a 200-day simple moving average of $3,119.41.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the business posted $32.55 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that AutoZone will post 154.29 EPS for the current year.

Institutional Trading of AutoZone

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in shares of AutoZone in the third quarter worth about $36,000. Meeder Asset Management Inc. boosted its holdings in AutoZone by 50.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the period. Carolina Wealth Advisors LLC acquired a new stake in AutoZone in the third quarter valued at approximately $47,000. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone during the third quarter valued at approximately $47,000. Finally, McIlrath & Eck LLC raised its stake in shares of AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after purchasing an additional 4 shares during the period. 92.74% of the stock is owned by hedge funds and other 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.