Evercore ISI Issues Positive Forecast for AutoZone (NYSE:AZO) Stock Price

AutoZone (NYSE:AZO) had its price target upped by Evercore ISI from $3,525.00 to $3,700.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts also recently issued reports on AZO. Mizuho upped their price objective on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a report on Wednesday. Guggenheim increased their target price on AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup increased their target price on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company increased their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Barclays increased their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3,646.62.

AutoZone Stock Performance

Shares of AZO stock opened at $3,569.49 on Wednesday. The stock’s 50 day simple moving average is $3,351.07 and its 200 day simple moving average is $3,223.79. AutoZone has a twelve month low of $2,728.97 and a twelve month high of $3,570.50. The company has a market capitalization of $59.90 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The firm had revenue of $3.95 billion during 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%. On average, analysts forecast that AutoZone will post 152.94 EPS for the current fiscal year.

Hedge Funds Weigh In On AutoZone

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in shares of AutoZone during the 4th quarter worth approximately $29,000. Flagship Wealth Advisors LLC bought a new position in AutoZone during the 4th quarter valued at about $32,000. Harbour Investments Inc. lifted its holdings in 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 bought a new position in AutoZone during the 3rd quarter valued at about $36,000. Finally, Minot DeBlois Advisors LLC bought a new position in AutoZone during the 4th quarter valued at about $45,000. Institutional investors own 92.74% of the company’s stock.

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.