AutoZone (NYSE:AZO) Sets New 52-Week High at $1,188.18

AutoZone, Inc. (NYSE:AZO) hit a new 52-week high on Friday . The stock traded as high as $1,188.18 and last traded at $1,183.34, with a volume of 835 shares traded. The stock had previously closed at $1,182.88.

Several brokerages have recently weighed in on AZO. Raymond James began coverage on AutoZone in a research report on Monday, October 7th. They set an “outperform” rating and a $1,250.00 target price on the stock. Wells Fargo & Co set a $1,275.00 target price on AutoZone and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada raised their target price on AutoZone from $1,091.00 to $1,097.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 25th. ValuEngine lowered AutoZone from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Nomura began coverage on AutoZone in a research report on Thursday, November 7th. They set a “buy” rating and a $1,250.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $1,142.71.

The company has a market cap of $28.06 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 1.48 and a beta of 0.62. The firm has a 50-day simple moving average of $1,142.95 and a 200 day simple moving average of $1,109.93.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 24th. The company reported $22.59 EPS for the quarter, topping the consensus estimate of $21.80 by $0.79. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. AutoZone had a negative return on equity of 98.67% and a net margin of 13.63%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $18.54 earnings per share. Analysts predict that AutoZone, Inc. will post 65.25 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlas Capital Advisors LLC increased its position in AutoZone by 13.6% during the second quarter. Atlas Capital Advisors LLC now owns 75 shares of the company’s stock worth $82,000 after buying an additional 9 shares during the period. Cetera Advisors LLC increased its holdings in shares of AutoZone by 4.0% in the third quarter. Cetera Advisors LLC now owns 236 shares of the company’s stock valued at $256,000 after purchasing an additional 9 shares during the period. Flagship Harbor Advisors LLC increased its holdings in shares of AutoZone by 5.6% in the second quarter. Flagship Harbor Advisors LLC now owns 190 shares of the company’s stock valued at $208,000 after purchasing an additional 10 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings in shares of AutoZone by 2.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 350 shares of the company’s stock valued at $385,000 after purchasing an additional 10 shares during the period. Finally, Savant Capital LLC increased its holdings in shares of AutoZone by 1.5% in the second quarter. Savant Capital LLC now owns 658 shares of the company’s stock valued at $723,000 after purchasing an additional 10 shares during the period. 93.54% of the stock is currently owned by institutional investors.

About AutoZone (NYSE:AZO)

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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