AutoZone (NYSE:AZO) Given New $4,000.00 Price Target at Raymond James

AutoZone (NYSE:AZO) had its price objective lifted by Raymond James from $3,850.00 to $4,000.00 in a report published on Wednesday morning,Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company raised their target price 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. Evercore ISI upped their price objective on shares of AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley boosted their price target on AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen increased their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Barclays lifted their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $3,646.62.

AutoZone Stock Performance

Shares of AZO opened at $3,569.49 on Wednesday. AutoZone has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,570.50. The firm has a market cap of $59.90 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71. The firm has a 50 day moving average price of $3,351.07 and a 200-day moving average price of $3,223.79.

AutoZone (NYSE:AZO) last posted 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 business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, equities research analysts predict that AutoZone will post 152.94 earnings per share for the current year.

Institutional Investors Weigh In On AutoZone

Institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock worth $141,717,000 after purchasing an additional 6,898 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after buying an additional 60,483 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of AutoZone by 29.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock worth $111,455,000 after buying an additional 7,922 shares in the last quarter. Silverleafe Capital Partners LLC lifted its stake in shares of AutoZone by 1.0% in the fourth quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock worth $8,460,000 after buying an additional 26 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its position in shares of AutoZone by 592.0% during the third quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock valued at $29,012,000 after acquiring an additional 7,879 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

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.