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

AutoZone (NYSE:AZO) had its target price dropped by Mizuho from $3,600.00 to $3,200.00 in a report released on Wednesday, MarketBeat Ratings reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price target points to a potential upside of 4.79% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group set a $4,800.00 target price on AutoZone in a report on Tuesday, March 3rd. BMO Capital Markets dropped their price target on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4,099.83.

AutoZone Price Performance

Shares of AZO stock traded down $46.36 during midday trading on Wednesday, hitting $3,053.75. The company had a trading volume of 20,426 shares, compared to its average volume of 191,540. AutoZone has a 52-week low of $3,001.00 and a 52-week high of $4,388.11. The company’s 50 day simple moving average is $3,448.20 and its 200 day simple moving average is $3,579.65. The stock has a market cap of $50.32 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 1.74 and a beta of 0.43.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period last year, the company earned $35.36 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts anticipate that AutoZone will post 149.16 EPS for the current year.

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director owned 4,837 shares in the company, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in AutoZone during the fourth quarter valued at about $939,205,000. Morgan Stanley raised its holdings in shares of AutoZone by 17.8% in the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after purchasing an additional 74,555 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of AutoZone by 387.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after purchasing an additional 61,821 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of AutoZone by 39.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock valued at $584,730,000 after purchasing an additional 50,071 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of AutoZone by 80.8% during the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after purchasing an additional 45,212 shares during the period. 92.74% of the stock is 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.