Mizuho Issues Positive Forecast for AutoZone (NYSE:AZO) Stock Price

AutoZone (NYSE:AZO) had its price target hoisted by equities researchers at Mizuho from $3,350.00 to $3,600.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 7.53% from the stock’s previous close.

A number of other analysts have also recently issued reports on AZO. DA Davidson reiterated a “neutral” rating and set a $3,025.00 target price on shares of AutoZone in a report on Monday, September 30th. Citigroup dropped their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Roth Capital upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. BNP Paribas raised AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Roth Mkm reiterated a “buy” rating and issued a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target of $3,264.25.

AutoZone Stock Up 0.7 %

NYSE:AZO opened at $3,347.85 on Wednesday. The company has a market cap of $56.59 billion, a P/E ratio of 22.36, a P/E/G ratio of 1.70 and a beta of 0.71. The firm’s 50 day moving average is $3,134.07 and its two-hundred day moving average is $3,053.20. AutoZone has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,416.71.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the business posted $32.55 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts forecast that AutoZone will post 155.79 earnings per share for the current fiscal year.

Insider Activity

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock worth $46,225,660 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AutoZone

A number of hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in shares of AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after acquiring an additional 993,139 shares during the period. Geode Capital Management LLC boosted 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 worth $1,326,545,000 after purchasing an additional 7,365 shares during the period. Marshfield Associates grew its position in AutoZone by 0.5% during the 3rd quarter. Marshfield Associates now owns 169,586 shares of the company’s stock worth $534,204,000 after purchasing an additional 796 shares in the last quarter. Legal & General Group Plc raised its stake in AutoZone by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 150,698 shares of the company’s stock valued at $446,684,000 after purchasing an additional 3,382 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in AutoZone during the 2nd quarter valued at $424,000. 92.74% of the stock is currently 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.