Wells Fargo & Company reissued their overweight rating on shares of AutoZone (NYSE:AZO) in a research note published on Monday, The Fly reports. The brokerage currently has a $1,375.00 target price on the stock, up from their previous target price of $1,300.00.
Several other research firms also recently commented on AZO. Royal Bank of Canada restated a sector perform rating and issued a $1,250.00 price target (up previously from $1,119.00) on shares of AutoZone in a research note on Wednesday, May 27th. DA Davidson began coverage on shares of AutoZone in a research note on Friday, August 14th. They set a buy rating and a $1,380.00 target price for the company. Nomura Instinet reiterated a buy rating on shares of AutoZone in a research note on Wednesday, May 27th. Goldman Sachs Group boosted their target price on shares of AutoZone from $967.00 to $1,105.00 and gave the stock a neutral rating in a research note on Wednesday, May 27th. Finally, Atlantic Securities upgraded shares of AutoZone from a neutral rating to an overweight rating and set a $1,425.00 target price for the company in a research note on Tuesday, September 8th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $1,247.72.
NYSE:AZO opened at $1,229.23 on Monday. The company has a fifty day simple moving average of $1,203.96 and a two-hundred day simple moving average of $1,082.22. The company has a market cap of $28.70 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92. AutoZone has a 52 week low of $684.91 and a 52 week high of $1,274.41.
Several large investors have recently made changes to their positions in AZO. Nordea Investment Management AB grew its stake in shares of AutoZone by 104.9% in the 2nd quarter. Nordea Investment Management AB now owns 1,069,736 shares of the company’s stock valued at $1,195,290,000 after buying an additional 547,747 shares in the last quarter. Fiera Capital Corp raised its holdings in AutoZone by 8.3% in the 1st quarter. Fiera Capital Corp now owns 655,807 shares of the company’s stock worth $554,809,000 after acquiring an additional 50,079 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in AutoZone by 2.2% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 461,282 shares of the company’s stock worth $390,245,000 after acquiring an additional 9,900 shares during the last quarter. Alliancebernstein L.P. lifted its position in AutoZone by 8.1% during the 1st quarter. Alliancebernstein L.P. now owns 381,818 shares of the company’s stock worth $323,018,000 after acquiring an additional 28,521 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new position in AutoZone during the 2nd quarter worth $276,856,000. 88.62% of the stock is owned by institutional investors and hedge funds.
AutoZone Company Profile
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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