AutoZone (NYSE:AZO – Get Free Report)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $3,200.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 4.07% from the stock’s previous close.
Several other brokerages also recently commented on AZO. Truist Financial cut their target price on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Guggenheim upped their price objective on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Oppenheimer restated a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Barclays lowered their price objective on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, Mizuho cut their target price on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $3,112.71.
Read Our Latest Analysis on AutoZone
AutoZone Price Performance
Institutional Trading of AutoZone
Several hedge funds have recently added to or reduced their stakes in AZO. Rise Advisors LLC bought a new stake in shares of AutoZone in the 1st quarter worth approximately $32,000. Riverview Trust Co bought a new position in shares of AutoZone during the 1st quarter worth $41,000. Meeder Asset Management Inc. increased 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 last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in AutoZone in the 2nd quarter valued at about $50,000. Finally, ORG Partners LLC bought a new position in AutoZone during the second quarter worth about $50,000. Institutional investors 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.
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