Bank of America Increases AutoZone (NYSE:AZO) Price Target to $3,700.00

AutoZone (NYSE:AZO) had its price objective hoisted by equities research analysts at Bank of America from $3,600.00 to $3,700.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price points to a potential upside of 4.48% from the stock’s current price.

AZO has been the topic of several other research reports. DA Davidson upped their price objective on AutoZone from $3,350.00 to $3,500.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup lifted their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. BMO Capital Markets lifted their target price on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley raised their target price on AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,616.86.

AutoZone Stock Up 2.0 %

NYSE AZO traded up $67.85 on Wednesday, reaching $3,541.51. The company had a trading volume of 59,598 shares, compared to its average volume of 108,939. The stock has a market capitalization of $59.43 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. AutoZone has a 12 month low of $2,728.97 and a 12 month high of $3,563.57. The firm’s 50 day moving average price is $3,345.35 and its 200 day moving average price is $3,221.36.

AutoZone (NYSE:AZO) last issued 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). The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. On average, research analysts expect that AutoZone will post 152.94 EPS for the current year.

Hedge Funds Weigh In On AutoZone

Several large investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in AutoZone during the fourth quarter worth about $29,000. Flagship Wealth Advisors LLC purchased a new stake in AutoZone in the fourth quarter valued at $32,000. Harbour Investments Inc. grew its stake in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after buying an additional 3 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of AutoZone in the 3rd quarter valued at $36,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of AutoZone in the fourth quarter valued at about $45,000. Institutional investors and hedge funds 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.