AutoZone, Inc. (NYSE:AZO) Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 6.2% in the fourth quarter, Holdings Channel reports. The fund owned 69 shares of the company’s stock after purchasing an additional 4 shares during the period. Pallas Capital Advisors LLC’s holdings in AutoZone were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in shares of AutoZone during the third quarter worth $36,000. Carolina Wealth Advisors LLC acquired a new stake in shares of AutoZone in the 3rd quarter worth $47,000. Darwin Wealth Management LLC acquired a new stake in shares of AutoZone in the 3rd quarter worth $47,000. McIlrath & Eck LLC increased 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 worth $63,000 after acquiring an additional 4 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in AutoZone during the third quarter worth about $66,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AZO. Guggenheim lifted their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Barclays increased their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. BMO Capital Markets assumed coverage on shares of AutoZone in a research report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 target price on the stock. Evercore ISI increased their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Roth Mkm reissued a “buy” rating and set a $3,634.00 price objective on shares of AutoZone in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,207.66 on Thursday. AutoZone, Inc. has a 1 year low of $2,575.00 and a 1 year high of $3,416.71. The company has a market capitalization of $53.83 billion, a P/E ratio of 21.43, a P/E/G ratio of 1.73 and a beta of 0.71. The business has a 50 day moving average price of $3,219.74 and a 200 day moving average price of $3,129.05.

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

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.