AutoZone (NYSE:AZO) Price Target Raised to $3,585.00 at Barclays

AutoZone (NYSE:AZO - Free Report) had its price objective increased by Barclays from $3,024.00 to $3,585.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also commented on AZO. UBS Group increased their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. The Goldman Sachs Group cut AutoZone from a "buy" rating to a "sell" rating and lowered their target price for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Roth Mkm reissued a "buy" rating and issued a $3,634.00 price target on shares of AutoZone in a report on Wednesday, October 16th. BMO Capital Markets started coverage on AutoZone in a research report on Friday, December 13th. They issued an "outperform" rating and a $3,700.00 price objective on the stock. Finally, StockNews.com cut AutoZone from a "buy" rating to a "hold" rating in a research report on Saturday, September 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $3,429.84.

AutoZone Stock Performance

AZO stock traded up $42.08 during midday trading on Thursday, hitting $3,301.99. 82,250 shares of the stock were exchanged, compared to its average volume of 117,290. The stock's 50-day moving average price is $3,207.04 and its 200-day moving average price is $3,120.68. The stock has a market cap of $55.41 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.73 and a beta of 0.71. AutoZone has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,416.71.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $32.55 EPS. Research analysts anticipate that AutoZone will post 154.29 EPS for the current year.

Institutional Investors Weigh In On AutoZone

Several institutional investors have recently bought and sold shares of AZO. Fortem Financial Group LLC boosted its position in AutoZone by 4.7% during the 4th quarter. Fortem Financial Group LLC now owns 377 shares of the company's stock worth $1,207,000 after purchasing an additional 17 shares during the period. Kings Path Partners LLC acquired a new position in shares of AutoZone during the fourth quarter worth about $1,073,000. Silverleafe Capital Partners LLC boosted its position in shares of 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 buying an additional 26 shares during the period. Pensionfund Sabic boosted its position in shares of AutoZone by 51.3% in the fourth quarter. Pensionfund Sabic now owns 590 shares of the company's stock worth $1,889,000 after buying an additional 200 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of AutoZone by 17.2% in the fourth quarter. GAMMA Investing LLC now owns 177 shares of the company's stock valued at $567,000 after buying an additional 26 shares in the last quarter. 92.74% of the stock is currently 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.