AutoZone (NYSE:AZO) Lowered to “Hold” at StockNews.com

AutoZone (NYSE:AZOGet Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts also recently weighed in on AZO. TheStreet downgraded AutoZone from a “c” rating to a “d+” rating in a report on Wednesday, December 20th. William Blair reaffirmed an “outperform” rating on shares of AutoZone in a research report on Wednesday, December 13th. Mizuho initiated coverage on AutoZone in a research report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 target price for the company. Wedbush raised their target price on AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised their target price on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3,080.72.

Read Our Latest Research Report on AutoZone

AutoZone Stock Performance

Shares of AZO stock opened at $3,191.48 on Wednesday. The stock’s fifty day moving average price is $2,891.93 and its two-hundred day moving average price is $2,691.78. The company has a market cap of $55.21 billion, a PE ratio of 22.47, a P/E/G ratio of 1.71 and a beta of 0.70. AutoZone has a fifty-two week low of $2,277.88 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZOGet Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating analysts’ consensus estimates of $26.08 by $2.81. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $24.64 EPS. On average, equities analysts predict that AutoZone will post 151.33 EPS for the current fiscal year.

Insider Activity at AutoZone

In related news, COO Thomas B. Newbern sold 7,800 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $2,551.62, for a total value of $19,902,636.00. Following the completion of the sale, the chief operating officer now directly owns 2,519 shares of the company’s stock, valued at approximately $6,427,530.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other AutoZone news, COO Thomas B. Newbern sold 7,800 shares of AutoZone stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $2,551.62, for a total transaction of $19,902,636.00. Following the completion of the transaction, the chief operating officer now owns 2,519 shares in the company, valued at approximately $6,427,530.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric S. Gould sold 2,100 shares of AutoZone stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the transaction, the vice president now owns 910 shares of the company’s stock, valued at approximately $2,912,000. The disclosure for this sale can be found here. Insiders sold 27,797 shares of company stock valued at $81,010,974 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On AutoZone

A number of hedge funds have recently added to or reduced their stakes in AZO. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of AutoZone in the 3rd quarter worth approximately $25,000. Rock Creek Group LP purchased a new position in shares of AutoZone in the 3rd quarter worth approximately $25,000. First Capital Advisors Group LLC. purchased a new position in shares of AutoZone in the 2nd quarter worth approximately $32,000. MUFG Americas Holdings Corp boosted its stake in shares of AutoZone by 166.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after buying an additional 10 shares during the last quarter. Finally, Mascoma Wealth Management LLC purchased a new position in shares of AutoZone in the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for AutoZone (NYSE:AZO)

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