Truist Financial Issues Positive Forecast for AutoZone (NYSE:AZO) Stock Price

AutoZone (NYSE:AZO) had its price objective increased by stock analysts at Truist Financial from $3,753.00 to $3,841.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 8.08% from the stock’s current price.

Several other equities analysts have also recently commented on AZO. Raymond James upped their target price on shares of AutoZone from $3,850.00 to $4,000.00 and gave the stock a “strong-buy” rating in a report on Wednesday. Guggenheim raised their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley raised their price objective on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Barclays increased their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,612.70.

AutoZone Stock Up 2.3 %

AZO traded up $80.09 during midday trading on Wednesday, reaching $3,553.75. 47,112 shares of the company’s stock were exchanged, compared to its average volume of 108,690. AutoZone has a one year low of $2,728.97 and a one year high of $3,563.57. The business has a 50-day simple moving average of $3,345.35 and a two-hundred day simple moving average of $3,221.36. The firm has a market capitalization of $59.64 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its 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. As a group, research analysts anticipate that AutoZone will post 152.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AZO. Siemens Fonds Invest GmbH grew its stake in shares of AutoZone by 630.1% during the 4th quarter. Siemens Fonds Invest GmbH now owns 1,577 shares of the company’s stock worth $5,050,000 after acquiring an additional 1,361 shares in the last quarter. Menard Financial Group LLC acquired a new position in shares of AutoZone during the fourth quarter worth $157,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in AutoZone in the 4th quarter valued at approximately $95,480,000. B. Riley Wealth Advisors Inc. increased its stake in shares of AutoZone by 1.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 1,219 shares of the company’s stock valued at $3,903,000 after buying an additional 13 shares during the period. Finally, Cypress Asset Management Inc. TX bought a new stake in AutoZone during the fourth quarter valued at $208,000. 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.