AutoZone, Inc. (NYSE:AZO) Receives $3,429.84 Average PT from Brokerages

AutoZone, Inc. (NYSE:AZO) has been given an average rating of “Moderate Buy” by the twenty-two ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $3,429.84.

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. BMO Capital Markets assumed coverage on shares of AutoZone in a research report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 target price on the stock. UBS Group lifted their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Argus increased their price target on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Finally, Mizuho lifted their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th.

Institutional Trading of AutoZone

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its holdings in shares of AutoZone by 354,692.5% during the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after acquiring an additional 993,139 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Canoe Financial LP grew its holdings in shares of AutoZone by 542.8% during the fourth quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock worth $200,032,000 after purchasing an additional 52,753 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of AutoZone by 319.0% in the second quarter. Squarepoint Ops LLC now owns 36,225 shares of the company’s stock valued at $107,375,000 after buying an additional 27,580 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new position in AutoZone in the 3rd quarter valued at approximately $85,127,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.9 %

Shares of NYSE:AZO opened at $3,326.80 on Monday. The stock has a market cap of $55.82 billion, a PE ratio of 22.23, a P/E/G ratio of 1.78 and a beta of 0.71. AutoZone has a 12-month low of $2,672.31 and a 12-month high of $3,416.71. The business has a 50 day moving average of $3,226.34 and a 200-day moving average of $3,142.72.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 14.18% and a negative return on equity of 53.89%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $32.55 earnings per share. Equities research analysts expect that AutoZone will post 152.94 earnings per share for the current year.

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.