Mizuho Boosts AutoZone (NYSE:AZO) Price Target to $4,050.00

AutoZone (NYSE:AZO) had its price target increased by equities research analysts at Mizuho from $3,740.00 to $4,050.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 10.44% from the stock’s current price.

A number of other research firms also recently weighed in on AZO. Guggenheim increased their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 28th. Roth Capital set a $4,135.00 price target on AutoZone and gave the stock a “buy” rating in a report on Monday, June 2nd. Oppenheimer upgraded shares of AutoZone from a “market perform” rating to an “outperform” rating and set a $4,600.00 price objective for the company in a report on Friday, May 2nd. Finally, Roth Mkm upped their price target on AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone has an average rating of “Buy” and a consensus price target of $4,087.00.

AutoZone Stock Performance

AZO opened at $3,667.00 on Thursday. The firm has a market capitalization of $61.53 billion, a PE ratio of 24.82, a PEG ratio of 2.25 and a beta of 0.39. AutoZone has a 52-week low of $2,801.49 and a 52-week high of $3,916.81. The business’s 50-day simple moving average is $3,701.69 and its 200 day simple moving average is $3,544.02.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $37.07 by ($1.71). The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $36.69 earnings per share. On average, research analysts forecast that AutoZone will post 152.94 earnings per share for the current year.

Insider Transactions at AutoZone

In other news, SVP K. Michelle Borninkhof sold 750 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the sale, the senior vice president owned 406 shares of the company’s stock, valued at $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Domingo Hurtado sold 4,800 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the sale, the vice president owned 159 shares of the company’s stock, valued at approximately $581,940. This represents a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,662 shares of company stock worth $131,999,089. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of AutoZone

Institutional investors have recently added to or reduced their stakes in the stock. Sound View Wealth Advisors Group LLC grew its holdings in shares of AutoZone by 2.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company’s stock valued at $487,000 after purchasing an additional 3 shares during the last quarter. PDS Planning Inc raised its position in shares of AutoZone by 2.3% during the 4th quarter. PDS Planning Inc now owns 132 shares of the company’s stock worth $423,000 after buying an additional 3 shares in the last quarter. Harbour Investments Inc. lifted its position in AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of AutoZone by 0.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company’s stock valued at $1,188,000 after buying an additional 3 shares during the period. Finally, Tandem Wealth Advisors LLC boosted its position in shares of AutoZone by 3.6% during the 4th quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company’s stock valued at $279,000 after purchasing an additional 3 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

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.