AutoZone (NYSE:AZO) Given New $3,850.00 Price Target at Wells Fargo & Company

AutoZone (NYSE:AZO) had its target price increased by Wells Fargo & Company from $3,750.00 to $3,850.00 in a report issued on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wedbush restated an “outperform” rating and issued a $3,700.00 target price on shares of AutoZone in a report on Wednesday. Evercore ISI upped their target price on AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley lifted their price target on AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Barclays boosted their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $3,646.62.

AutoZone Stock Up 2.8 %

Shares of AutoZone stock opened at $3,569.49 on Wednesday. The business has a fifty day simple moving average of $3,351.07 and a 200-day simple moving average of $3,223.79. AutoZone has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,570.50. The firm has a market cap of $59.90 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued 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). The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Analysts anticipate that AutoZone will post 152.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AutoZone

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at $29,000. Flagship Wealth Advisors LLC bought a new stake in shares of AutoZone during the 4th quarter worth about $32,000. Harbour Investments Inc. increased its holdings in shares of AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after acquiring an additional 3 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of AutoZone during the 3rd quarter valued at about $36,000. Finally, Minot DeBlois Advisors LLC bought a new stake in AutoZone during the fourth quarter worth approximately $45,000. 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.