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

AutoZone (NYSE:AZO) had its price target upped by stock analysts at Barclays from $3,024.00 to $3,585.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 8.57% from the company’s previous close.

A number of other analysts have also issued reports on AZO. Citigroup boosted their price target on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Evercore ISI raised their target price on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company upped their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone Trading Up 1.3 %

AZO traded up $42.08 during trading on Thursday, hitting $3,301.99. 82,250 shares of the company traded hands, compared to its average volume of 117,290. The company has a market cap of $55.41 billion, a PE ratio of 22.06, a P/E/G ratio of 1.73 and a beta of 0.71. The stock’s 50-day simple moving average is $3,201.18 and its two-hundred day simple moving average is $3,119.41. AutoZone has a 1 year low of $2,510.00 and a 1 year high of $3,416.71.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the company posted $32.55 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that AutoZone will post 154.29 EPS for the current year.

Hedge Funds Weigh In On AutoZone

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortem Financial Group LLC increased its holdings in shares of AutoZone by 4.7% in the fourth quarter. Fortem Financial Group LLC now owns 377 shares of the company’s stock valued at $1,207,000 after purchasing an additional 17 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of AutoZone in the 4th quarter worth $1,073,000. Silverleafe Capital Partners LLC increased its stake in shares of AutoZone by 1.0% in the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock worth $8,460,000 after acquiring an additional 26 shares during the last quarter. Pensionfund Sabic raised its holdings in shares of AutoZone by 51.3% during the 4th quarter. Pensionfund Sabic now owns 590 shares of the company’s stock worth $1,889,000 after acquiring an additional 200 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of AutoZone by 17.2% during the 4th quarter. GAMMA Investing LLC now owns 177 shares of the company’s stock valued at $567,000 after acquiring an additional 26 shares during the last quarter. 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.