AutoZone (NYSE:AZO) Sets New 52-Week High – Time to Buy?

Shares of AutoZone, Inc. (NYSE:AZO) reached a new 52-week high during trading on Monday . The stock traded as high as $3,445.05 and last traded at $3,424.84, with a volume of 104889 shares. The stock had previously closed at $3,350.21.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AZO shares. Barclays boosted their price objective on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Guggenheim increased their target price on AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Evercore ISI boosted their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. BMO Capital Markets assumed coverage on shares of AutoZone in a research note on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 target price on the stock. Finally, Argus upped their price target on shares of AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Price Performance

The firm has a market cap of $57.69 billion, a PE ratio of 22.97, a PEG ratio of 1.85 and a beta of 0.70. The stock has a 50 day simple moving average of $3,263.25 and a 200-day simple moving average of $3,167.44.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) 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 revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $32.55 EPS. As a group, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Institutional Trading of AutoZone

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