AutoZone (NYSE:AZO) Price Target Raised to $3,750.00

AutoZone (NYSE:AZO) had its price target hoisted by Morgan Stanley from $3,490.00 to $3,750.00 in a research note issued to investors on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

AZO has been the subject of a number of other reports. Citigroup lifted 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. BMO Capital Markets started coverage on AutoZone in a research report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price objective for the company. Wells Fargo & Company increased their target price on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Barclays boosted 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. Finally, Evercore ISI increased their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,646.62.

AutoZone Trading Up 2.8 %

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 12-month low of $2,728.97 and a 12-month high of $3,570.50. The firm has a market cap of $59.90 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its earnings results 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). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. On average, research analysts forecast that AutoZone will post 152.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AZO. Franklin Resources Inc. lifted its holdings in AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock valued at $141,717,000 after acquiring an additional 6,898 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in AutoZone by 29.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock valued at $111,455,000 after purchasing an additional 7,922 shares during the last quarter. Silverleafe Capital Partners LLC boosted its holdings in AutoZone by 1.0% during the fourth quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock worth $8,460,000 after buying an additional 26 shares in the last quarter. Finally, Mizuho Securities USA LLC grew its position in AutoZone by 592.0% in the third quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock worth $29,012,000 after buying an additional 7,879 shares during the last quarter. 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.