AutoZone (NYSE:AZO) Stock Price Expected to Rise, Barclays Analyst Says

AutoZone (NYSE:AZO) had its price objective hoisted by Barclays from $3,024.00 to $3,585.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 10.09% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Guggenheim raised their price target on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. BMO Capital Markets assumed coverage on AutoZone in a research note on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 target price on the stock. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group cut shares of AutoZone from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Finally, Mizuho boosted their target price 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,256.42 on Thursday. The company’s fifty day moving average is $3,212.55 and its two-hundred day moving average is $3,122.56. AutoZone has a 1-year low of $2,512.61 and a 1-year high of $3,416.71. The stock has a market capitalization of $54.65 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the company earned $32.55 EPS. AutoZone’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts expect that AutoZone will post 154.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AZO. Franklin Resources Inc. boosted its position in shares of AutoZone by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock valued at $141,717,000 after purchasing an additional 6,898 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after purchasing an additional 60,483 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. Verde Capital Management acquired a new position in AutoZone in the third quarter worth approximately $1,137,000. Finally, Mizuho Securities USA LLC increased its holdings in shares of AutoZone by 592.0% in the third quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock valued at $29,012,000 after buying an additional 7,879 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

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.