JPMorgan Chase & Co. Issues Positive Forecast for AutoZone (NYSE:AZO) Stock Price

AutoZone (NYSE:AZO) had its price target increased by JPMorgan Chase & Co. from $3,775.00 to $3,830.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets increased their target price on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a research report on Wednesday. Mizuho raised their price target on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday. TD Cowen raised their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Evercore ISI raised their price objective 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. Finally, Citigroup raised their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3,646.62.

AutoZone Stock Performance

Shares of AZO stock opened at $3,569.49 on Wednesday. AutoZone has a 52-week low of $2,728.97 and a 52-week high of $3,570.50. The stock has a market cap of $59.90 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.86 and a beta of 0.71. The firm has a fifty day moving average of $3,351.07 and a 200-day moving average of $3,223.79.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The company 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, sell-side analysts predict that AutoZone will post 152.94 earnings per share for the current year.

Institutional Investors Weigh In On AutoZone

Several hedge funds have recently bought and sold shares of AZO. Siemens Fonds Invest GmbH grew its holdings in shares of AutoZone by 630.1% in the 4th quarter. Siemens Fonds Invest GmbH now owns 1,577 shares of the company’s stock valued at $5,050,000 after buying an additional 1,361 shares during the period. Menard Financial Group LLC acquired a new position in shares of AutoZone in the 4th quarter valued at $157,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of AutoZone in the 4th quarter valued at $95,480,000. B. Riley Wealth Advisors Inc. grew its holdings in shares of AutoZone by 1.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 1,219 shares of the company’s stock valued at $3,903,000 after buying an additional 13 shares during the period. Finally, Cypress Asset Management Inc. TX acquired a new position in shares of AutoZone in the 4th quarter valued at $208,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

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.