AutoZone (NYSE:AZO) Stock Price Expected to Rise, Mizuho Analyst Says

AutoZone (NYSE:AZO) had its price objective raised by Mizuho from $3,600.00 to $3,740.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also weighed in on the company. Evercore ISI boosted their price target on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Guggenheim boosted their price target on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. TD Cowen boosted their price target on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Truist Financial boosted their price target on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, BMO Capital Markets began coverage on AutoZone in a research note on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,646.62.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,620.28 on Wednesday. The company has a market capitalization of $60.76 billion, a PE ratio of 24.19, a P/E/G ratio of 1.86 and a beta of 0.71. The company has a 50-day simple moving average of $3,365.96 and a two-hundred day simple moving average of $3,229.56. AutoZone has a one year low of $2,728.97 and a one year high of $3,636.96.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. On average, equities analysts predict that AutoZone will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other news, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares of the company’s stock, valued at $177,500. This represents a 76.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in AutoZone by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock valued at $1,326,545,000 after purchasing an additional 7,365 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in AutoZone by 482,040.2% in the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after buying an additional 419,375 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of AutoZone by 5.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company’s stock worth $1,039,421,000 after purchasing an additional 17,518 shares during the period. Norges Bank purchased a new position in shares of AutoZone during the 4th quarter worth $834,556,000. Finally, PineStone Asset Management Inc. grew its holdings in shares of AutoZone by 6.9% during the 4th quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock worth $683,867,000 after purchasing an additional 13,771 shares during the period. 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.