AutoZone (NYSE:AZO) Given “Outperform” Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of AutoZone (NYSE:AZO) in a research note released on Thursday morning, Benzinga reports. Wedbush currently has a $3,200.00 price target on the stock. Wedbush also issued estimates for AutoZone’s Q4 2024 earnings at $52.64 EPS, FY2024 earnings at $150.77 EPS, Q1 2025 earnings at $34.98 EPS, Q2 2025 earnings at $31.41 EPS, Q3 2025 earnings at $40.16 EPS, Q4 2025 earnings at $55.46 EPS, FY2025 earnings at $161.91 EPS and FY2026 earnings at $179.91 EPS.

Several other analysts have also weighed in on the stock. Guggenheim lifted their target price on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a buy rating in a research report on Wednesday, June 26th. UBS Group decreased their target price on shares of AutoZone from $3,465.00 to $3,340.00 and set a buy rating on the stock in a research report on Wednesday, May 22nd. Truist Financial decreased their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a buy rating on the stock in a research report on Wednesday, May 22nd. Barclays decreased their target price on shares of 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. Finally, Citigroup decreased their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a buy rating on the stock in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $3,129.44.

AutoZone Price Performance

NYSE AZO opened at $3,020.66 on Thursday. The firm has a market capitalization of $51.60 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 1.45 and a beta of 0.71. The company’s fifty day moving average is $3,105.66 and its two-hundred day moving average is $3,010.09. AutoZone has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

Hedge Funds Weigh In On AutoZone

A number of institutional investors have recently modified their holdings of the stock. Boston Partners raised its stake in shares of AutoZone by 1.7% in the first quarter. Boston Partners now owns 382,169 shares of the company’s stock worth $1,202,596,000 after acquiring an additional 6,226 shares during the last quarter. PineStone Asset Management Inc. raised its stake in shares of AutoZone by 137.6% in 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 during the last quarter. Parnassus Investments LLC raised its stake in shares of AutoZone by 32.0% in the fourth quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after acquiring an additional 58,989 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of AutoZone by 11.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock worth $550,296,000 after buying an additional 22,507 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of AutoZone by 4.1% during the first quarter. Nordea Investment Management AB now owns 203,072 shares of the company’s stock worth $643,641,000 after buying an additional 7,988 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Company Profile

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.