Wedbush Reiterates “Outperform” Rating for AutoZone (NYSE:AZO)

Wedbush restated their outperform rating on shares of AutoZone (NYSE:AZO) in a research report report published on Thursday morning, Benzinga reports. They currently have a $3,200.00 price target on the stock. Wedbush also issued estimates for AutoZone’s Q4 2024 earnings at $52.64 EPS, FY2024 earnings at $150.77 EPS, Q1 2025 earnings at $34.98 EPS, Q2 2025 earnings at $31.41 EPS, Q3 2025 earnings at $40.16 EPS, Q4 2025 earnings at $55.46 EPS, FY2025 earnings at $161.91 EPS and FY2026 earnings at $179.91 EPS.

A number of other research firms have also recently commented on AZO. Oppenheimer reiterated a market perform rating and set a $2,600.00 target price on shares of AutoZone in a research note on Wednesday, June 26th. Wolfe Research lowered their price objective on AutoZone from $3,150.00 to $3,000.00 and set an outperform rating on the stock in a research note on Wednesday, May 22nd. Morgan Stanley lowered their price objective on AutoZone from $3,100.00 to $3,038.00 and set an overweight rating on the stock in a research note on Wednesday, May 22nd. Truist Financial lowered their price objective on AutoZone from $3,523.00 to $3,394.00 and set a buy rating on the stock in a research note on Wednesday, May 22nd. Finally, Guggenheim boosted their price objective on AutoZone from $3,150.00 to $3,225.00 and gave the company a buy rating in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $3,129.44.

AutoZone Price Performance

NYSE AZO opened at $3,020.66 on Thursday. The stock has a market capitalization of $51.60 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.45 and a beta of 0.71. AutoZone has a one year low of $2,375.35 and a one year high of $3,256.37. The business’s fifty day moving average is $3,105.66 and its 200-day moving average is $3,010.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AZO. Rise Advisors LLC purchased a new position in shares of AutoZone during the first quarter worth about $32,000. Riverview Trust Co purchased a new stake in AutoZone in the first quarter worth approximately $41,000. Meeder Asset Management Inc. boosted its stake in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after buying an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in AutoZone in the second quarter worth approximately $50,000. Finally, ORG Partners LLC purchased a new stake in AutoZone in the second quarter worth approximately $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

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.