Analysts Set AutoZone, Inc. (NYSE:AZO) Price Target at $3,429.84

Shares of AutoZone, Inc. (NYSE:AZO) have been given an average recommendation of “Moderate Buy” by the twenty-two brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $3,429.84.

AZO has been the topic of a number of research reports. DA Davidson restated a “neutral” rating and set a $3,025.00 price target on shares of AutoZone in a research note on Monday, September 30th. Roth Mkm restated a “buy” rating and set a $3,634.00 target price on shares of AutoZone in a report on Wednesday, October 16th. The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and cut their price target for the stock from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. Mizuho raised their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Argus upped their target price on shares of AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd.

AutoZone Trading Down 1.3 %

NYSE AZO opened at $3,328.28 on Monday. The stock has a fifty day simple moving average of $3,234.31 and a 200-day simple moving average of $3,145.59. The stock has a market cap of $55.85 billion, a PE ratio of 22.24, a P/E/G ratio of 1.84 and a beta of 0.71. AutoZone has a twelve month low of $2,672.31 and a twelve month high of $3,416.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the business earned $32.55 earnings per share. AutoZone’s revenue was up 2.1% on a year-over-year basis. Research analysts predict that AutoZone will post 152.94 EPS for the current year.

Hedge Funds Weigh In On AutoZone

Several hedge funds have recently made changes to their positions in the company. Trust Point Inc. boosted its position in shares of AutoZone by 17.1% in the 4th quarter. Trust Point Inc. now owns 89 shares of the company’s stock valued at $285,000 after purchasing an additional 13 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of AutoZone by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 29,560 shares of the company’s stock valued at $94,651,000 after acquiring an additional 469 shares during the period. Western Pacific Wealth Management LP grew its position in shares of AutoZone by 38.0% during the fourth quarter. Western Pacific Wealth Management LP now owns 127 shares of the company’s stock worth $407,000 after acquiring an additional 35 shares during the last quarter. Greenleaf Trust increased its holdings in shares of AutoZone by 1.1% in the 4th quarter. Greenleaf Trust now owns 810 shares of the company’s stock valued at $2,594,000 after acquiring an additional 9 shares during the period. Finally, Spire Wealth Management raised its position in AutoZone by 16.3% in the 4th quarter. Spire Wealth Management now owns 100 shares of the company’s stock valued at $320,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors 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.