AutoZone (NYSE:AZO) PT Raised to $3,350.00

AutoZone (NYSE:AZO) had its target price upped by equities research analysts at Mizuho from $3,280.00 to $3,350.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 4.96% from the stock’s current price.

AZO has been the topic of a number of other reports. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Oppenheimer reiterated a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a research note on Wednesday, June 26th. Evercore ISI dropped their target price on shares of AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Guggenheim boosted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $3,169.38.

AutoZone Stock Performance

AutoZone stock opened at $3,191.56 on Wednesday. AutoZone has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The stock has a market cap of $54.51 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. The firm’s 50-day simple moving average is $3,111.58 and its 200 day simple moving average is $3,010.06.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $46.46 earnings per share. As a group, analysts predict that AutoZone will post 151.08 EPS for the current fiscal year.

Institutional Trading of AutoZone

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Anchor Investment Management LLC increased its holdings in AutoZone by 5.8% during the 2nd quarter. Anchor Investment Management LLC now owns 1,042 shares of the company’s stock worth $3,089,000 after acquiring an additional 57 shares during the period. Sanctuary Advisors LLC bought a new stake in AutoZone during the 2nd quarter worth approximately $2,249,000. 3Chopt Investment Partners LLC bought a new stake in AutoZone during the 2nd quarter worth approximately $362,000. Brandes Investment Partners LP increased its holdings in AutoZone by 18.3% during the 2nd quarter. Brandes Investment Partners LP now owns 17,174 shares of the company’s stock worth $50,897,000 after acquiring an additional 2,660 shares during the period. Finally, Regal Investment Advisors LLC increased its holdings in AutoZone by 39.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 248 shares of the company’s stock worth $735,000 after acquiring an additional 70 shares during the period. 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.