AutoZone (NYSE:AZO) Price Target Raised to $3,841.00

AutoZone (NYSE:AZO) had its target price raised by Truist Financial from $3,753.00 to $3,841.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 8.08% from the company’s previous close.

Several other analysts have also recently issued reports on AZO. Argus cut AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday. Raymond James lifted their price target on shares of AutoZone from $3,850.00 to $4,000.00 and gave the company a “strong-buy” rating in a research note on Wednesday. Citigroup boosted their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company upped their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Evercore ISI increased their target price on shares of AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $3,612.70.

AutoZone Stock Performance

NYSE:AZO traded up $80.09 during midday trading on Wednesday, reaching $3,553.75. 47,112 shares of the stock traded hands, compared to its average volume of 108,690. The company has a fifty day moving average of $3,345.35 and a 200 day moving average of $3,221.36. AutoZone has a 12 month low of $2,728.97 and a 12 month high of $3,563.57. The stock has a market capitalization of $59.64 billion, a P/E ratio of 23.74, a PEG ratio of 1.86 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. On average, analysts predict that AutoZone will post 152.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. raised its stake in shares of AutoZone by 5.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock valued at $195,000 after acquiring an additional 3 shares during the last quarter. Sound View Wealth Advisors Group LLC lifted its holdings in shares of AutoZone by 2.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company’s stock valued at $487,000 after purchasing an additional 3 shares during the last quarter. PDS Planning Inc grew its holdings in shares of AutoZone by 2.3% during the fourth quarter. PDS Planning Inc now owns 132 shares of the company’s stock valued at $423,000 after buying an additional 3 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in AutoZone by 0.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company’s stock valued at $1,188,000 after purchasing an additional 3 shares during the period. Hedge funds and other 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.