Evercore ISI Cuts AutoZone (NYSE:AZO) Price Target to $3,350.00

AutoZone (NYSE:AZO) had its target price trimmed by Evercore ISI from $3,900.00 to $3,350.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

AZO has been the subject of a number of other reports. Oppenheimer restated a market perform rating and issued a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Guggenheim upped their target price on AutoZone from $3,150.00 to $3,225.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. Wedbush restated an outperform rating and issued a $3,200.00 target price on shares of AutoZone in a research report on Thursday. Barclays cut their price objective on AutoZone from $3,100.00 to $3,024.00 and set an overweight rating for the company in a research report on Thursday, May 23rd. Finally, StockNews.com upgraded AutoZone from a hold rating to a buy rating in a research report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AutoZone has an average rating of Moderate Buy and a consensus target price of $3,129.44.

AutoZone Price Performance

AZO opened at $3,020.66 on Friday. The company has a market capitalization of $51.60 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. AutoZone has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The business has a 50 day moving average price of $3,105.66 and a two-hundred day moving average price of $3,010.09.

Institutional Trading of AutoZone

Several large investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC raised its stake in AutoZone by 5.8% during the 2nd quarter. Anchor Investment Management LLC now owns 1,042 shares of the company’s stock valued at $3,089,000 after purchasing an additional 57 shares during the period. Sanctuary Advisors LLC acquired a new stake in AutoZone during the second quarter valued at $2,249,000. 3Chopt Investment Partners LLC acquired a new position in AutoZone in the 2nd quarter worth about $362,000. Brandes Investment Partners LP increased its position in AutoZone by 18.3% in the 2nd quarter. Brandes Investment Partners LP now owns 17,174 shares of the company’s stock worth $50,897,000 after purchasing an additional 2,660 shares during the last quarter. Finally, Regal Investment Advisors LLC lifted its holdings in shares of AutoZone by 39.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 248 shares of the company’s stock valued at $735,000 after buying an additional 70 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

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.