Concurrent Investment Advisors LLC Increases Position in AutoZone, Inc. (NYSE:AZO)

Concurrent Investment Advisors LLC increased its stake in AutoZone, Inc. (NYSE:AZO) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 213 shares of the company’s stock after acquiring an additional 4 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in AutoZone were worth $682,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Ieq Capital LLC increased its holdings in shares of AutoZone by 41.7% in the 4th quarter. Ieq Capital LLC now owns 1,343 shares of the company’s stock valued at $4,301,000 after purchasing an additional 395 shares in the last quarter. Freedom Day Solutions LLC increased its holdings in shares of AutoZone by 11.0% in the 4th quarter. Freedom Day Solutions LLC now owns 925 shares of the company’s stock valued at $2,962,000 after purchasing an additional 92 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new position in shares of AutoZone in the 4th quarter valued at about $42,737,000. Global Retirement Partners LLC increased its holdings in shares of AutoZone by 23.1% in the 4th quarter. Global Retirement Partners LLC now owns 48 shares of the company’s stock valued at $154,000 after purchasing an additional 9 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of AutoZone by 138.1% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 1,205 shares of the company’s stock valued at $3,858,000 after purchasing an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AZO. Guggenheim increased their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Mizuho increased their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. TD Cowen increased 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 note on Monday, December 16th. Wells Fargo & Company increased their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Truist Financial increased their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Trading Down 1.2 %

Shares of NYSE:AZO opened at $3,366.15 on Monday. The company has a fifty day simple moving average of $3,321.62 and a 200 day simple moving average of $3,207.75. The firm has a market cap of $56.48 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.88 and a beta of 0.70. AutoZone, Inc. has a 12-month low of $2,708.09 and a 12-month high of $3,484.42.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $32.55 EPS. As a group, equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone 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.