AutoZone (NYSE:AZO) Given New $3,341.00 Price Target at Truist Financial

AutoZone (NYSE:AZO) had its price objective cut by Truist Financial from $3,394.00 to $3,341.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on AZO. Wedbush reissued an outperform rating and set a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. StockNews.com cut shares of AutoZone from a buy rating to a hold rating in a research report on Saturday, September 21st. Evercore ISI dropped their price target on AutoZone from $3,900.00 to $3,350.00 and set an outperform rating on the stock in a research report on Friday, September 20th. Guggenheim upped their target price on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a buy rating in a research note on Wednesday, June 26th. Finally, Oppenheimer reaffirmed a market perform rating and issued a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $3,169.38.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,108.97 on Wednesday. AutoZone has a 52-week low of $2,375.35 and a 52-week high of $3,256.37. The business has a fifty day moving average of $3,109.08 and a two-hundred day moving average of $3,009.36. The stock has a market cap of $53.10 billion, a PE ratio of 21.50, a PEG ratio of 1.43 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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). AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period in the previous year, the business posted $46.46 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts predict that AutoZone will post 151.08 earnings per share for the current year.

Institutional Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently made changes to their positions in AZO. PineStone Asset Management Inc. boosted its position in shares of AutoZone by 137.6% during the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after buying an additional 179,543 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of AutoZone during the 2nd quarter worth approximately $424,000. Captrust Financial Advisors boosted its stake in shares of AutoZone by 564.2% in the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after buying an additional 129,193 shares during the last quarter. Baillie Gifford & Co. increased its holdings in AutoZone by 2,714.8% during the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after buying an additional 115,924 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of AutoZone by 106.7% during the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after purchasing an additional 60,852 shares during the last quarter. Institutional investors and hedge funds 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.