AutoZone (NYSE:AZO) Downgraded by Robert W. Baird to “Neutral”

Robert W. Baird downgraded shares of AutoZone (NYSE:AZO) from an outperform rating to a neutral rating in a report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $3,900.00 price objective on the stock.

Several other brokerages have also recently weighed in on AZO. Citigroup reduced their price target on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Roth Mkm restated a “buy” rating and issued a $4,650.00 target price (down previously from $4,750.00) on shares of AutoZone in a research note on Wednesday, December 10th. BMO Capital Markets decreased their price target on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Erste Group Bank lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. Finally, DA Davidson reduced their price objective on shares of AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4,271.25.

AutoZone Stock Down 1.2%

NYSE AZO opened at $3,635.34 on Monday. The company’s 50 day moving average is $3,544.53 and its 200-day moving average is $3,847.54. AutoZone has a 12-month low of $3,210.72 and a 12-month high of $4,388.11. The firm has a market cap of $60.24 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 1.75 and a beta of 0.41.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business posted $32.52 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts expect that AutoZone will post 152.94 EPS for the current year.

Insider Buying and Selling at AutoZone

In related news, Director Michael A. George acquired 145 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was bought at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the acquisition, the director owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. The trade was a 34.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Craig Smith sold 5,910 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the transaction, the vice president owned 2,627 shares of the company’s stock, valued at $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On AutoZone

Several hedge funds have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. boosted its position in shares of AutoZone by 8.3% in the 2nd quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock worth $10,179,000 after purchasing an additional 210 shares in the last quarter. Braun Stacey Associates Inc. raised its stake in AutoZone by 7.8% during the third quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock valued at $36,145,000 after buying an additional 613 shares during the last quarter. Summit Global Investments boosted its holdings in AutoZone by 132.8% in the third quarter. Summit Global Investments now owns 319 shares of the company’s stock worth $1,369,000 after acquiring an additional 182 shares in the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of AutoZone in the third quarter worth $678,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of AutoZone by 68.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock valued at $6,251,000 after acquiring an additional 591 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Company Profile

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.