AutoZone (NYSE:AZO) Price Target Lowered to $3,200.00 at Mizuho

Key Points

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AutoZone (NYSE:AZO - Get Free Report) had its target price lowered by investment analysts at Mizuho from $3,600.00 to $3,200.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's price target would suggest a potential upside of 4.79% from the company's previous close.

A number of other equities research analysts have also recently commented on the stock. UBS Group set a $4,800.00 target price on shares of AutoZone in a research report on Tuesday, March 3rd. Truist Financial dropped their target price on AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Guggenheim decreased their price target on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating for the company in a research note on Wednesday. BMO Capital Markets dropped their price target on AutoZone from $4,300.00 to $4,000.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Citigroup decreased their price objective on shares of AutoZone from $4,300.00 to $3,700.00 and set a "buy" rating for the company in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $4,099.83.

AutoZone Trading Down 1.5%

Shares of AZO stock traded down $46.36 on Wednesday, reaching $3,053.75. 20,426 shares of the company's stock were exchanged, compared to its average volume of 191,540. The company's fifty day simple moving average is $3,448.20 and its 200 day simple moving average is $3,579.65. AutoZone has a 52 week low of $3,001.00 and a 52 week high of $4,388.11. The stock has a market capitalization of $50.32 billion, a PE ratio of 21.39, a P/E/G ratio of 1.74 and a beta of 0.43.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts' consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period in the previous year, the company posted $35.36 EPS. AutoZone's revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that AutoZone will post 149.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Earl G. Graves, Jr. sold 50 shares of the company's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On AutoZone

A number of hedge funds and other institutional investors have recently bought and sold shares of AZO. Groupama Asset Managment lifted its holdings in AutoZone by 16.8% during the 1st quarter. Groupama Asset Managment now owns 153 shares of the company's stock worth $517,000 after buying an additional 22 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of AutoZone during the 1st quarter worth about $14,048,000. Wellington Grp LLC lifted its stake in AutoZone by 2.4% during the first quarter. Wellington Grp LLC now owns 600 shares of the company's stock worth $2,027,000 after purchasing an additional 14 shares during the last quarter. CTC Alternative Strategies Ltd. boosted its holdings in AutoZone by 229.5% in the first quarter. CTC Alternative Strategies Ltd. now owns 257 shares of the company's stock valued at $868,000 after purchasing an additional 179 shares in the last quarter. Finally, FinArc Investments Inc. acquired a new position in AutoZone in the first quarter valued at approximately $2,908,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported fiscal Q3 EPS of $38.07, ahead of consensus estimates, and revenue rose 8.4% year over year to $4.84 billion, with same-store sales up 3.9% companywide and 4.1% domestically. Article Title
• Positive Sentiment: Domestic growth and commercial expansion remained strong, and management said the repair business stayed resilient even as consumers cut back elsewhere. Article Title
• Neutral Sentiment: AutoZone announced a partnership with Google Cloud, which could support longer-term operational and digital initiatives, but it was not the main driver of the stock move. Article Title
• Neutral Sentiment: Several analysts cut price targets after the report, including BMO Capital Markets to $4,000 and Robert W. Baird to $3,600, signaling some caution but still implying upside from recent levels. Article Title
• Negative Sentiment: The stock fell sharply after the company missed revenue expectations, and multiple reports pointed to margin pressure, including a non-cash LIFO impact, as well as softer international results. Article Title

About AutoZone

AutoZone, Inc NYSE: AZO is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.

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