AutoZone (NYSE:AZO) Price Target Raised to $3,830.00 at JPMorgan Chase & Co.

AutoZone (NYSE:AZO) had its price objective lifted by JPMorgan Chase & Co. from $3,775.00 to $3,830.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Guggenheim increased their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Citigroup increased their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. TD Cowen increased their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a report on Monday, December 16th. Truist Financial increased their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Barclays increased their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3,646.62.

AutoZone Trading Up 2.8 %

Shares of NYSE AZO opened at $3,569.49 on Wednesday. The firm has a market cap of $59.90 billion, a PE ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71. AutoZone has a 1-year low of $2,728.97 and a 1-year high of $3,570.50. The company has a fifty day moving average price of $3,351.07 and a 200 day moving average price of $3,223.79.

AutoZone (NYSE:AZO) last released its quarterly 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). 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 analyst estimates of $3.98 billion. Equities research analysts forecast that AutoZone will post 152.94 EPS for the current year.

Institutional Investors Weigh In On AutoZone

A number of hedge funds and other institutional investors have recently modified their holdings of AZO. Headlands Technologies LLC acquired a new stake in shares of AutoZone during the fourth quarter worth $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $32,000. Harbour Investments Inc. raised its position in shares of 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 in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of AutoZone in the third quarter valued at approximately $36,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

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.