AutoZone (NYSE:AZO) Price Target Raised to $3,600.00 at Mizuho

AutoZone (NYSE:AZO - Get Free Report) had its price target increased by stock analysts at Mizuho from $3,350.00 to $3,600.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's target price suggests a potential upside of 7.63% from the company's previous close.

A number of other analysts have also issued reports on the company. Wedbush reissued an "outperform" rating and issued a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. DA Davidson reissued a "neutral" rating and issued a $3,025.00 target price on shares of AutoZone in a research report on Monday, September 30th. Wells Fargo & Company upped their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Truist Financial boosted their price objective on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, Redburn Atlantic raised AutoZone to a "strong-buy" rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $3,339.25.

AutoZone Trading Down 0.1 %

Shares of AutoZone stock traded down $2.46 during mid-day trading on Wednesday, hitting $3,344.70. 119,116 shares of the stock were exchanged, compared to its average volume of 139,673. The company has a 50-day simple moving average of $3,137.56 and a 200 day simple moving average of $3,057.08. The stock has a market capitalization of $56.54 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.71. AutoZone has a twelve month low of $2,510.00 and a twelve month high of $3,416.71.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, December 10th. The company reported $32.52 EPS 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 in the previous year, the firm posted $32.55 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that AutoZone will post 155.79 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the transaction, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John Scott Murphy sold 1,580 shares of the firm's stock in a transaction dated 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 completion of the sale, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,880 shares of company stock valued at $46,225,660. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On AutoZone

A number of hedge funds have recently made changes to their positions in AZO. ORG Partners LLC acquired a new position in AutoZone in the second quarter worth $50,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of AutoZone by 39.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 387 shares of the company's stock valued at $1,147,000 after purchasing an additional 109 shares in the last quarter. Swedbank AB raised its position in AutoZone by 5.6% in the 2nd quarter. Swedbank AB now owns 16,524 shares of the company's stock worth $48,979,000 after purchasing an additional 869 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in AutoZone during the 2nd quarter worth $334,000. Finally, Assenagon Asset Management S.A. boosted its position in AutoZone by 39.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 49,818 shares of the company's stock valued at $147,666,000 after buying an additional 14,050 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

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.