AutoZone (NYSE:AZO) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

AutoZone (NYSE:AZO - Get Free Report) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $3,775.00 to $3,830.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 8.65% from the company's current price.

Several other equities analysts have also recently commented on AZO. Mizuho lifted their target price on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an "outperform" rating in a research report on Wednesday. Citigroup boosted their price objective on AutoZone from $3,500.00 to $3,900.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Evercore ISI raised their target price 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. Barclays lifted their target price on AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a research note on Thursday, January 9th. Finally, BMO Capital Markets increased their price target on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $3,516.42.

AutoZone Trading Up 1.5 %

AutoZone stock traded up $51.38 during trading on Wednesday, hitting $3,525.04. 9,387 shares of the company were exchanged, compared to its average volume of 107,661. The company has a market capitalization of $59.16 billion, a P/E ratio of 23.55, a PEG ratio of 1.86 and a beta of 0.70. The business's 50 day moving average is $3,345.35 and its 200 day moving average is $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 - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. Equities analysts expect that AutoZone will post 152.94 EPS for the current year.

Institutional Investors Weigh In On AutoZone

Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in AutoZone by 29.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 75 shares of the company's stock valued at $236,000 after acquiring an additional 17 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of AutoZone by 2.0% during the third quarter. Asset Management One Co. Ltd. now owns 6,813 shares of the company's stock valued at $21,461,000 after purchasing an additional 131 shares during the period. QRG Capital Management Inc. grew its holdings in shares of AutoZone by 12.0% in the third quarter. QRG Capital Management Inc. now owns 326 shares of the company's stock worth $1,027,000 after purchasing an additional 35 shares during the last quarter. Moloney Securities Asset Management LLC increased its stake in AutoZone by 21.3% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 285 shares of the company's stock worth $898,000 after buying an additional 50 shares during the period. Finally, Pittenger & Anderson Inc. lifted its holdings in AutoZone by 9.4% during the 3rd quarter. Pittenger & Anderson Inc. now owns 58 shares of the company's stock valued at $183,000 after buying an additional 5 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

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.

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