AutoZone (NYSE:AZO) Reaches New 52-Week High After Analyst Upgrade

AutoZone, Inc. (NYSE:AZO)’s share price hit a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $3,875.00 to $4,025.00. UBS Group currently has a buy rating on the stock. AutoZone traded as high as $3,570.50 and last traded at $3,569.49, with a volume of 167115 shares. The stock had previously closed at $3,473.66.

A number of other equities research analysts also recently weighed in on AZO. Bank of America lifted their target price on AutoZone from $3,600.00 to $3,700.00 and gave the stock a “neutral” rating in a research report on Wednesday. Guggenheim lifted their price objective on AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen upped their target price on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Mizuho lifted their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,646.62.

Insider Buying and Selling at AutoZone

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the sale, the senior vice president now owns 50 shares in the company, valued at approximately $177,500. This trade represents a 76.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of AutoZone during the fourth quarter worth $29,000. Flagship Wealth Advisors LLC acquired a new stake in AutoZone in the fourth quarter worth about $32,000. Harbour Investments Inc. raised its holdings in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in AutoZone during the 3rd quarter valued at about $36,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of AutoZone in the 4th quarter valued at about $45,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Up 0.1 %

The company has a market cap of $60.76 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. The firm’s 50 day moving average price is $3,365.96 and its 200-day moving average price is $3,229.56.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The business 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%. Analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal 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.