AutoZone, Inc. (NYSE:AZO) Stock Has Consensus Price Target of $3,674.36 According to Brokerages

AutoZone, Inc. (NYSE:AZO) has been assigned an average rating of “Moderate Buy” from the twenty-six research firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $3,674.36.

A number of equities analysts recently commented on the stock. Guggenheim reduced their price objective on shares of AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of AutoZone in a research note on Wednesday, October 21st. TD Cowen reiterated a “buy” rating on shares of AutoZone in a research report on Monday, October 26th. Sanford C. Bernstein assumed coverage on shares of AutoZone in a report on Tuesday, September 29th. They issued an “outperform” rating and a $3,698.00 price target on the stock. Finally, Truist Financial dropped their price objective on shares of AutoZone from $3,817.00 to $3,648.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd.

Hedge Funds Weigh In On AutoZone

Large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its position in shares of AutoZone by 42,984.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company’s stock valued at $29,821,658,000 after buying an additional 10,513,156 shares during the period. BlackRock Inc. purchased a new stake in shares of AutoZone in the 2nd quarter valued at approximately $3,938,566,000. Sound Income Strategies LLC raised its position in shares of AutoZone by 646,568.6% during the 3rd quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock worth $1,866,687,000 after acquiring an additional 659,500 shares in the last quarter. Howard Capital Management LLC raised its stake in AutoZone by 79,236.8% during the 3rd quarter. Howard Capital Management LLC now owns 385,577 shares of the company’s stock worth $1,091,191,000 after acquiring an additional 385,091 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in AutoZone by 247,417.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock valued at $798,963,000 after buying an additional 249,892 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of AZO stock opened at $3,312.72 on Friday. The company’s 50-day simple moving average is $2,986.92 and its two-hundred day simple moving average is $3,256.94. The company has a market capitalization of $53.31 billion, a P/E ratio of 21.68, a P/E/G ratio of 1.71 and a beta of 0.37. AutoZone has a one year low of $2,730.65 and a one year high of $3,996.25.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, topping the consensus estimate of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the prior year, the business earned $48.71 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts expect that AutoZone will post 170.30 EPS for the current fiscal year.

AutoZone Company Profile

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.