AutoZone (NYSE:AZO) Stock Price Expected to Rise, Guggenheim Analyst Says

AutoZone (NYSE:AZO) had its price objective lifted by investment analysts at Guggenheim from $3,750.00 to $3,850.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 9.22% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets lifted their price objective on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company raised their target price on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial increased their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Argus cut AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,516.42.

AutoZone Price Performance

Shares of NYSE:AZO traded up $51.38 during trading on Wednesday, hitting $3,525.04. The company had a trading volume of 9,387 shares, compared to its average volume of 107,661. The stock has a market cap of $59.16 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. AutoZone has a one year low of $2,728.97 and a one year high of $3,563.57. The company has a fifty day simple moving average of $3,345.35 and a two-hundred day simple moving average of $3,221.36.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. On average, equities research analysts anticipate that AutoZone will post 152.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of AutoZone by 29.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 75 shares of the company’s stock valued at $236,000 after purchasing an additional 17 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in 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 buying an additional 131 shares in the last quarter. QRG Capital Management Inc. increased its position 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 acquiring an additional 35 shares in the last quarter. Moloney Securities Asset Management LLC raised its stake in shares of AutoZone by 21.3% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 285 shares of the company’s stock valued at $898,000 after acquiring an additional 50 shares during the period. Finally, Pittenger & Anderson Inc. raised its stake in shares of AutoZone by 9.4% in the 3rd quarter. Pittenger & Anderson Inc. now owns 58 shares of the company’s stock valued at $183,000 after acquiring an additional 5 shares during the period. 92.74% of the stock is 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.