AutoZone (NYSE:AZO) Price Target Raised to $3,830.00 at JPMorgan Chase & Co.

AutoZone (NYSE:AZO) had its price target increased by research analysts at JPMorgan Chase & Co. from $3,775.00 to $3,830.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.18% from the company’s current price.

A number of other research analysts also recently commented on the stock. Argus downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley increased their target price on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday. Guggenheim increased their target price 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. BMO Capital Markets increased their target price on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Citigroup increased their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3,646.62.

AutoZone Trading Up 1.4 %

Shares of NYSE:AZO opened at $3,607.20 on Wednesday. AutoZone has a 52 week low of $2,728.97 and a 52 week high of $3,615.79. The company’s 50 day moving average is $3,358.39 and its two-hundred day moving average is $3,226.46. The company has a market cap of $60.54 billion, a PE ratio of 24.10, a P/E/G ratio of 1.86 and a beta of 0.71.

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

Institutional Trading of AutoZone

Several hedge funds have recently made changes to their positions in AZO. Pittenger & Anderson Inc. boosted its holdings in AutoZone by 5.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock worth $195,000 after buying an additional 3 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its position in AutoZone by 2.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company’s stock worth $487,000 after acquiring an additional 3 shares during the last quarter. PDS Planning Inc raised its position in AutoZone by 2.3% during the fourth quarter. PDS Planning Inc now owns 132 shares of the company’s stock worth $423,000 after acquiring an additional 3 shares during the last quarter. Harbour Investments Inc. raised its position in AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after acquiring an additional 3 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its position in AutoZone by 0.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company’s stock worth $1,188,000 after acquiring an additional 3 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

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.