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

AutoZone (NYSE:AZO) had its price target hoisted by Barclays from $3,024.00 to $3,585.00 in a research report released on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

AZO has been the subject of several other reports. DA Davidson restated a “neutral” rating and issued a $3,025.00 price target on shares of AutoZone in a research note on Monday, September 30th. Citigroup upped their target price 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. Guggenheim lifted their price target on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley increased their price objective on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Roth Capital raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Trading Up 1.3 %

AZO opened at $3,301.99 on Thursday. The firm’s 50 day simple moving average is $3,207.04 and its two-hundred day simple moving average is $3,120.68. The company has a market capitalization of $55.41 billion, a PE ratio of 22.06, a PEG ratio of 1.73 and a beta of 0.71. AutoZone has a 1-year low of $2,510.00 and a 1-year high of $3,416.71.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. AutoZone’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $32.55 EPS. Equities analysts forecast that AutoZone will post 154.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AutoZone

Institutional investors and hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in shares of AutoZone during the third quarter worth $36,000. Meeder Asset Management Inc. boosted its position in AutoZone by 50.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after buying an additional 5 shares during the period. Carolina Wealth Advisors LLC purchased a new stake in AutoZone in the 3rd quarter valued at about $47,000. Darwin Wealth Management LLC bought a new position in AutoZone in the 3rd quarter worth about $47,000. Finally, McIlrath & Eck LLC increased its position in shares of AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after acquiring an additional 4 shares during the period. 92.74% of the stock is owned by institutional investors.

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.