AutoZone (NYSE:AZO) Reaches New 12-Month High – What’s Next?

AutoZone, Inc. (NYSE:AZO) hit a new 52-week high on Monday . The company traded as high as $3,437.63 and last traded at $3,413.26, with a volume of 56907 shares. The stock had previously closed at $3,332.53.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AZO. Mizuho boosted their price target on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Roth Mkm restated a “buy” rating and issued a $3,634.00 price objective on shares of AutoZone in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group cut shares of AutoZone from a “buy” rating to a “sell” rating and lowered their price target for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Price Performance

The company has a fifty day moving average price of $3,238.73 and a 200 day moving average price of $3,153.35. The company has a market cap of $56.72 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 1.84 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its earnings results 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). The firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $32.55 EPS. As a group, sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in AutoZone in the 3rd quarter worth approximately $36,000. Carolina Wealth Advisors LLC purchased a new stake in AutoZone in the third quarter worth $47,000. Darwin Wealth Management LLC bought a new stake in AutoZone in the third quarter valued at $47,000. Crews Bank & Trust purchased a new position in AutoZone during the 4th quarter valued at $61,000. Finally, McIlrath & Eck LLC raised its holdings in AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares in the last quarter. 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.