AutoZone (NYSE:AZO) Price Target Raised to $3,700.00 at Evercore ISI

AutoZone (NYSE:AZO) had its price objective boosted by analysts at Evercore ISI from $3,525.00 to $3,700.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective suggests a potential upside of 5.77% from the stock’s current price.

A number of other equities analysts have also weighed in on AZO. Truist Financial increased their target price on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Argus lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday. TD Cowen upped their target price on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Morgan Stanley boosted 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. Finally, Wells Fargo & Company boosted their target price on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3,529.58.

AutoZone Price Performance

Shares of NYSE AZO traded up $24.61 during mid-day trading on Wednesday, reaching $3,498.27. 24,307 shares of the company’s stock were exchanged, compared to its average volume of 107,895. The firm has a market capitalization of $58.71 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. The firm has a 50-day moving average price of $3,345.35 and a two-hundred day moving average price of $3,221.36. AutoZone has a 52 week low of $2,728.97 and a 52 week high of $3,563.57.

AutoZone (NYSE:AZO) last released 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 net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. As a group, sell-side analysts forecast that AutoZone will post 152.94 EPS for the current fiscal year.

Institutional Trading of AutoZone

A number of large investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in AutoZone by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock valued at $141,717,000 after buying an additional 6,898 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after acquiring an additional 60,483 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of AutoZone by 29.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock valued at $111,455,000 after purchasing an additional 7,922 shares during the period. Silverleafe Capital Partners LLC grew its stake in AutoZone by 1.0% in the fourth quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock worth $8,460,000 after purchasing an additional 26 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its holdings in AutoZone by 592.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock worth $29,012,000 after purchasing an additional 7,879 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

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.