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

AutoZone (NYSE:AZO) had its target price raised by Barclays from $3,024.00 to $3,585.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently weighed in on AZO. The Goldman Sachs Group downgraded AutoZone from a “buy” rating to a “sell” rating and lowered their price objective for the company from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Roth Mkm reiterated a “buy” rating and set a $3,634.00 price target on shares of AutoZone in a report on Wednesday, October 16th. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Wedbush restated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. Finally, DA Davidson reiterated a “neutral” rating and set a $3,025.00 target price on shares of AutoZone in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Stock Performance

AZO stock opened at $3,256.42 on Thursday. The firm has a market cap of $54.65 billion, a P/E ratio of 21.76, a P/E/G ratio of 1.73 and a beta of 0.71. The firm’s fifty day moving average is $3,212.55 and its 200 day moving average is $3,123.85. AutoZone has a 52 week low of $2,512.61 and a 52 week high of $3,416.71.

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

Institutional Trading of AutoZone

A number of hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC boosted its stake in AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after acquiring an additional 993,139 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of AutoZone by 319.0% in the 2nd quarter. Squarepoint Ops LLC now owns 36,225 shares of the company’s stock worth $107,375,000 after purchasing an additional 27,580 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of AutoZone in the 3rd quarter worth approximately $85,127,000. Finally, Erste Asset Management GmbH bought a new position in AutoZone during the 3rd quarter valued at approximately $63,379,000. 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.