Townsend & Associates Inc Increases Stock Position in AutoZone, Inc. (NYSE:AZO)

Townsend & Associates Inc boosted its stake in AutoZone, Inc. (NYSE:AZO) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,608 shares of the company’s stock after purchasing an additional 118 shares during the quarter. Townsend & Associates Inc’s holdings in AutoZone were worth $15,196,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AZO. Capital Performance Advisors LLP purchased a new stake in AutoZone in the 3rd quarter worth $36,000. Darwin Wealth Management LLC purchased a new stake in AutoZone in the 3rd quarter worth $47,000. Crews Bank & Trust purchased a new stake in AutoZone in the 4th quarter worth $61,000. McIlrath & Eck LLC raised its position in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after buying an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of AutoZone during the 3rd quarter valued at about $66,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO stock opened at $3,366.15 on Friday. The company has a market capitalization of $56.48 billion, a P/E ratio of 22.49, a P/E/G ratio of 1.88 and a beta of 0.70. The company’s 50-day simple moving average is $3,321.62 and its two-hundred day simple moving average is $3,206.92. AutoZone, Inc. has a one year low of $2,708.09 and a one year high of $3,484.42.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. AutoZone’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $32.55 earnings per share. On average, research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on AZO shares. BMO Capital Markets started coverage on shares of AutoZone in a research report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 target price on the stock. Mizuho upped their target price on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Evercore ISI upped their target price on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. TD Cowen upped their target price on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Wells Fargo & Company upped their target price on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,429.84.

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.