UBS Group Forecasts Strong Price Appreciation for AutoZone (NYSE:AZO) Stock

AutoZone (NYSE:AZO) had its price objective boosted by equities research analysts at UBS Group from $3,875.00 to $4,025.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 11.58% from the company’s previous close.

A number of other analysts have also issued reports on AZO. Citigroup boosted their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Raymond James boosted their price target on shares of AutoZone from $3,850.00 to $4,000.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen boosted their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Barclays boosted their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target of $3,646.62.

AutoZone Trading Up 1.4 %

Shares of AZO opened at $3,607.20 on Wednesday. The firm has a market cap of $60.54 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. AutoZone has a 12-month low of $2,728.97 and a 12-month high of $3,615.79. The company’s 50-day moving average price is $3,358.39 and its 200 day moving average price is $3,226.46.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Equities research analysts forecast that AutoZone will post 152.94 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. TFR Capital LLC. purchased a new position in shares of AutoZone in the fourth quarter valued at $240,000. Siemens Fonds Invest GmbH increased its position in shares of AutoZone by 630.1% in the fourth 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 in the last quarter. Menard Financial Group LLC purchased a new position in shares of AutoZone in the fourth quarter valued at $157,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of AutoZone in the fourth quarter valued at $95,480,000. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of AutoZone by 1.1% in the fourth 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 in the last quarter. Hedge funds and other 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.