AutoZone (NYSE:AZO) Given New $4,050.00 Price Target at Mizuho

AutoZone (NYSE:AZO - Free Report) had its price target raised by Mizuho from $3,740.00 to $4,050.00 in a research report released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also commented on AZO. Roth Mkm lifted their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. UBS Group lifted their target price on shares of AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Truist Financial set a $3,995.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Wells Fargo & Company set a $4,200.00 price target on AutoZone and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, Bank of America raised AutoZone from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. Two 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $4,087.00.

AutoZone Stock Down 0.5%

Shares of AutoZone stock traded down $18.34 on Thursday, reaching $3,667.00. The company's stock had a trading volume of 84,768 shares, compared to its average volume of 130,305. AutoZone has a 52 week low of $2,801.49 and a 52 week high of $3,916.81. The firm's fifty day simple moving average is $3,700.47 and its two-hundred day simple moving average is $3,541.64. The company has a market capitalization of $61.53 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 2.20 and a beta of 0.39.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The business had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.41 billion. During the same period last year, the business earned $36.69 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts predict that AutoZone will post 152.94 EPS for the current year.

Insider Activity

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Domingo Hurtado sold 4,800 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the sale, the vice president owned 159 shares in the company, valued at $581,940. The trade was a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,662 shares of company stock worth $131,999,089 in the last quarter. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AutoZone

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in AutoZone by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company's stock worth $6,709,967,000 after purchasing an additional 13,643 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of AutoZone by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after buying an additional 65,368 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of AutoZone by 435,031.1% in the first quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock worth $2,936,535,000 after buying an additional 770,005 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of AutoZone by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company's stock worth $1,331,870,000 after acquiring an additional 24,701 shares during the last quarter. Finally, Norges Bank bought a new position in shares of AutoZone during the fourth quarter worth $834,556,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

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.