DA Davidson Increases AutoZone (NYSE:AZO) Price Target to $3,500.00

AutoZone (NYSE:AZO) had its target price upped by DA Davidson from $3,350.00 to $3,500.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price objective indicates a potential downside of 0.16% from the company’s current price.

AZO has been the subject of a number of other reports. Morgan Stanley upped their price objective on shares of AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup upped their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. BMO Capital Markets lifted their price objective on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a report on Wednesday. TD Cowen boosted their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Barclays increased their target price on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $3,601.85.

AutoZone Price Performance

Shares of NYSE:AZO traded up $32.01 during trading on Wednesday, reaching $3,505.67. 35,467 shares of the company were exchanged, compared to its average volume of 108,453. The business’s fifty day simple moving average is $3,345.35 and its 200-day simple moving average is $3,221.36. AutoZone has a 12-month low of $2,728.97 and a 12-month high of $3,563.57. The firm has a market capitalization of $58.83 billion, a PE ratio of 23.41, a P/E/G ratio of 1.86 and a beta of 0.70.

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

Hedge Funds Weigh In On AutoZone

Several hedge funds have recently made changes to their positions in AZO. Pittenger & Anderson Inc. grew its stake in AutoZone by 5.2% during the 4th quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock valued at $195,000 after purchasing 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 worth $487,000 after purchasing an additional 3 shares during the period. PDS Planning Inc boosted its position in AutoZone by 2.3% in 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. boosted its position in AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after buying an additional 3 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in AutoZone by 0.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 371 shares of the company’s stock worth $1,188,000 after buying an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

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.