BMO Capital Markets Forecasts Strong Price Appreciation for AutoZone (NYSE:AZO) Stock

AutoZone (NYSE:AZO - Get Free Report) had its target price lifted by equities research analysts at BMO Capital Markets from $3,700.00 to $3,850.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' price target would suggest a potential upside of 9.55% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. Citigroup raised their target price on AutoZone from $3,500.00 to $3,900.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Morgan Stanley raised 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. Mizuho increased their price target on AutoZone from $3,600.00 to $3,740.00 and gave the stock an "outperform" rating in a report on Wednesday. Barclays boosted their price objective on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a report on Thursday, January 9th. Finally, Evercore ISI raised their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $3,493.44.

AutoZone Stock Up 1.1 %

AZO stock opened at $3,514.44 on Wednesday. The business's fifty day simple moving average is $3,345.35 and its two-hundred day simple moving average is $3,221.36. The firm has a market cap of $58.98 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.86 and a beta of 0.70. AutoZone has a twelve month low of $2,728.97 and a twelve month high of $3,563.57.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82). The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. Research analysts expect that AutoZone will post 152.94 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZO. Headlands Technologies LLC bought a new stake in AutoZone during the 4th quarter worth about $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at $32,000. Harbour Investments Inc. grew 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 purchasing an additional 3 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in AutoZone during the 3rd quarter worth approximately $36,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in AutoZone in the fourth quarter valued at $45,000. 92.74% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.