AutoZone (NYSE:AZO) Price Target Raised to $3,740.00 at Mizuho

AutoZone (NYSE:AZO) had its target price upped by Mizuho from $3,600.00 to $3,740.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company upped their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. BMO Capital Markets initiated coverage on AutoZone in a report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price objective for the company. Argus downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays increased their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Finally, Guggenheim increased their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,646.62.

AutoZone Price Performance

NYSE AZO opened at $3,569.49 on Wednesday. The business has a fifty day moving average price of $3,351.07 and a two-hundred day moving average price of $3,223.79. AutoZone has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,570.50. The stock has a market capitalization of $59.90 billion, a PE ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71.

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

Hedge Funds Weigh In On AutoZone

A number of institutional investors and hedge funds have recently made changes to their positions in AZO. Farther Finance Advisors LLC boosted its position in shares of AutoZone by 29.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 75 shares of the company’s stock worth $236,000 after purchasing an additional 17 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in AutoZone by 2.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 6,813 shares of the company’s stock valued at $21,461,000 after buying an additional 131 shares during the last quarter. QRG Capital Management Inc. increased its stake in AutoZone by 12.0% in the 3rd quarter. QRG Capital Management Inc. now owns 326 shares of the company’s stock valued at $1,027,000 after buying an additional 35 shares during the last quarter. Moloney Securities Asset Management LLC increased its stake in AutoZone by 21.3% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 285 shares of the company’s stock valued at $898,000 after buying an additional 50 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its stake in shares of AutoZone by 9.4% during the 3rd quarter. Pittenger & Anderson Inc. now owns 58 shares of the company’s stock worth $183,000 after purchasing an additional 5 shares during the last quarter. Institutional investors 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.