Mizuho Forecasts Strong Price Appreciation for AutoZone (NYSE:AZO) Stock

AutoZone (NYSE:AZO) had its target price boosted by analysts at Mizuho from $3,600.00 to $3,740.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 3.68% from the company’s current price.

AZO has been the topic of several other research reports. Wells Fargo & Company raised their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Argus cut shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup raised their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. TD Cowen lifted their target price on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Truist Financial lifted their target price on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,646.62.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,607.20 on Wednesday. The firm has a fifty day moving average price of $3,358.39 and a two-hundred day moving average price of $3,226.46. AutoZone has a one year low of $2,728.97 and a one year high of $3,615.79. The company has a market cap of $60.54 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. Equities research analysts expect that AutoZone will post 152.94 EPS for the current fiscal year.

Hedge Funds Weigh In On AutoZone

Several institutional investors and hedge funds have recently modified their holdings of AZO. Farther Finance Advisors LLC increased its position in shares of AutoZone by 29.3% during the third quarter. Farther Finance Advisors LLC now owns 75 shares of the company’s stock valued at $236,000 after acquiring an additional 17 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of AutoZone by 2.0% during the third quarter. Asset Management One Co. Ltd. now owns 6,813 shares of the company’s stock valued at $21,461,000 after acquiring an additional 131 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of AutoZone by 12.0% during the third quarter. QRG Capital Management Inc. now owns 326 shares of the company’s stock valued at $1,027,000 after acquiring an additional 35 shares in the last quarter. Moloney Securities Asset Management LLC increased its position in shares of AutoZone by 21.3% during the third quarter. Moloney Securities Asset Management LLC now owns 285 shares of the company’s stock valued at $898,000 after acquiring an additional 50 shares in the last quarter. Finally, Pittenger & Anderson Inc. increased its position in shares of AutoZone by 9.4% during the third quarter. Pittenger & Anderson Inc. now owns 58 shares of the company’s stock valued at $183,000 after acquiring an additional 5 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

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.