Mizuho Lowers AutoZone (NYSE:AZO) Price Target to $3,280.00

AutoZone (NYSE:AZO) had its target price cut by analysts at Mizuho from $3,450.00 to $3,280.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s target price suggests a potential upside of 18.09% from the stock’s current price.

A number of other equities analysts also recently commented on the company. UBS Group upped their target price on AutoZone from $3,100.00 to $3,425.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Evercore ISI decreased their price target on shares of AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Truist Financial lifted their price objective on AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Barclays raised their target price on AutoZone from $2,779.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Citigroup reduced their target price on shares of AutoZone from $3,505.00 to $3,420.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3,066.53.

AutoZone Price Performance

NYSE AZO opened at $2,777.54 on Wednesday. AutoZone has a one year low of $2,277.88 and a one year high of $3,256.37. The business’s fifty day moving average is $3,015.95 and its 200-day moving average is $2,826.45. The stock has a market capitalization of $48.11 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.40 and a beta of 0.72.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the previous year, the business posted $34.12 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts expect that AutoZone will post 152.27 EPS for the current fiscal year.

Insider Activity

In other news, Chairman William C. Rhodes III sold 6,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the transaction, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Eric S. Gould sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the transaction, the vice president now owns 910 shares of the company’s stock, valued at $2,912,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock worth $50,335,193 over the last three months. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of AutoZone

Several institutional investors and hedge funds have recently modified their holdings of AZO. Rock Creek Group LP acquired a new stake in shares of AutoZone during the 3rd quarter worth $25,000. Rise Advisors LLC purchased a new stake in AutoZone during the 1st quarter worth $32,000. Riverview Trust Co acquired a new stake in shares of AutoZone during the first quarter valued at about $41,000. ORG Partners LLC acquired a new position in shares of AutoZone in the third quarter worth about $43,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

About AutoZone

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.