Mizuho Boosts AutoZone (NYSE:AZO) Price Target to $3,350.00

AutoZone (NYSE:AZO) had its price objective hoisted by Mizuho from $3,280.00 to $3,350.00 in a report published on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

AZO has been the subject of several other research reports. Evercore ISI dropped their target price on shares of AutoZone from $3,900.00 to $3,350.00 and set an outperform rating for the company in a report on Friday, September 20th. Wedbush reiterated an outperform rating and set a $3,200.00 target price on shares of AutoZone in a research report on Thursday, September 19th. StockNews.com downgraded AutoZone from a buy rating to a hold rating in a research note on Saturday, September 21st. Truist Financial dropped their target price on shares of AutoZone from $3,394.00 to $3,341.00 and set a buy rating for the company in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an overweight rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone has a consensus rating of Moderate Buy and an average target price of $3,169.38.

AutoZone Stock Up 0.2 %

NYSE AZO opened at $3,196.61 on Wednesday. AutoZone has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The company has a market capitalization of $54.61 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. The stock’s 50-day moving average price is $3,121.63 and its 200-day moving average price is $3,012.27.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. AutoZone’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $46.46 EPS. Research analysts anticipate that AutoZone will post 151.08 EPS for the current year.

Insider Buying and Selling

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of AutoZone

Institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in AutoZone in the 1st quarter worth about $32,000. Riverview Trust Co purchased a new stake in AutoZone in the 1st quarter valued at about $41,000. Meeder Asset Management Inc. grew its stake in AutoZone by 50.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of AutoZone during the second quarter worth approximately $50,000. Finally, ORG Partners LLC purchased a new position in shares of AutoZone during the second quarter worth approximately $50,000. 92.74% of the stock is currently owned by institutional investors.

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.