AutoZone, Inc. (NYSE:AZO) Shares Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC grew its position in shares of AutoZone, Inc. (NYSE:AZO) by 11.6% during the 4th quarter, Holdings Channel reports. The firm owned 106 shares of the company’s stock after purchasing an additional 11 shares during the period. Perigon Wealth Management LLC’s holdings in AutoZone were worth $339,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AZO. Capital Performance Advisors LLP acquired a new position in shares of AutoZone in the 3rd quarter worth $36,000. Carolina Wealth Advisors LLC acquired a new stake in shares of AutoZone in the third quarter worth $47,000. Darwin Wealth Management LLC acquired a new stake in shares of AutoZone in the third quarter worth $47,000. McIlrath & Eck LLC boosted its position in shares of AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after buying an additional 4 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of AutoZone in the third quarter worth $66,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AZO has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on AutoZone in a research report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 target price for the company. Mizuho lifted their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Roth Mkm reissued a “buy” rating and set a $3,634.00 price objective on shares of AutoZone in a research report on Wednesday, October 16th. The Goldman Sachs Group cut AutoZone from a “buy” rating to a “sell” rating and reduced their price objective for the company from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Finally, Guggenheim lifted their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Stock Performance

NYSE:AZO opened at $3,354.35 on Monday. The stock’s fifty day moving average price is $3,263.25 and its two-hundred day moving average price is $3,166.16. AutoZone, Inc. has a 52-week low of $2,672.31 and a 52-week high of $3,437.63. The company has a market cap of $56.29 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 1.83 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $32.55 EPS. On average, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.