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

AutoZone, Inc. (NYSE:AZO - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-two brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $3,429.84.

Several equities analysts recently issued reports on the company. Evercore ISI upped their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Guggenheim increased their price target on AutoZone from $3,350.00 to $3,750.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Wells Fargo & Company increased their price target on AutoZone from $3,450.00 to $3,750.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. TD Cowen raised 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. Finally, Mizuho raised their target price on AutoZone from $3,350.00 to $3,600.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in shares of AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company's stock valued at $141,717,000 after acquiring an additional 6,898 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock worth $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in AutoZone by 29.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company's stock worth $111,455,000 after purchasing an additional 7,922 shares during the last quarter. Silverleafe Capital Partners LLC lifted 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 during the last quarter. Finally, Verde Capital Management bought a new stake in AutoZone in the third quarter worth about $1,137,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Price Performance

NYSE:AZO traded down $7.77 during mid-day trading on Friday, reaching $3,461.94. 77,024 shares of the company's stock traded hands, compared to its average volume of 103,996. AutoZone has a 12-month low of $2,680.96 and a 12-month high of $3,484.42. The firm has a market capitalization of $58.09 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.92 and a beta of 0.70. The company has a 50 day moving average price of $3,315.89 and a 200-day moving average price of $3,198.06.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) 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 business had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the prior year, the firm earned $32.55 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts forecast that AutoZone will post 152.94 EPS for the current year.

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.