AutoZone (NYSE:AZO) Earns Outperform Rating from Wedbush

AutoZone (NYSE:AZO)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a report issued on Thursday, Benzinga reports. They currently have a $3,200.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 4.07% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Barclays dropped their target price on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Oppenheimer restated a “market perform” rating and issued a $2,600.00 price objective on shares of AutoZone in a report on Wednesday, June 26th. Guggenheim boosted their target price on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Mizuho cut their price target on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Finally, Wolfe Research lowered their target price on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,112.71.

AutoZone Stock Performance

AutoZone stock opened at $3,074.71 on Thursday. AutoZone has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The firm has a market cap of $52.53 billion, a PE ratio of 21.27, a P/E/G ratio of 1.45 and a beta of 0.71. The firm’s 50 day moving average price is $3,100.68 and its two-hundred day moving average price is $3,011.63.

Institutional Investors Weigh In On AutoZone

Several hedge funds have recently made changes to their positions in AZO. PineStone Asset Management Inc. lifted its holdings in AutoZone by 137.6% during the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock worth $918,998,000 after acquiring an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of AutoZone in the 2nd quarter valued at about $424,000. Captrust Financial Advisors increased its position in AutoZone by 564.2% during the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after buying an additional 129,193 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of AutoZone by 2,714.8% during the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after acquiring an additional 115,924 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of AutoZone by 106.7% in the first quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock valued at $371,552,000 after purchasing an additional 60,852 shares during the period. 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.