AutoZone (NYSE:AZO) Downgraded to Hold at StockNews.com

AutoZone (NYSE:AZO) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Truist Financial boosted their price objective on shares of AutoZone from $3,027.00 to $3,363.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. William Blair reiterated an “outperform” rating on shares of AutoZone in a report on Wednesday, December 13th. Wedbush boosted their price target on AutoZone from $2,950.00 to $3,400.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Finally, UBS Group increased their price objective on AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,080.72.

AutoZone Trading Down 1.3 %

Shares of AutoZone stock opened at $3,152.07 on Wednesday. The stock’s fifty day simple moving average is $2,912.84 and its 200 day simple moving average is $2,699.29. The company has a market capitalization of $54.53 billion, a PE ratio of 22.19, a PEG ratio of 1.69 and a beta of 0.70. AutoZone has a 12 month low of $2,277.88 and a 12 month high of $3,256.37.

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

Insider Buying and Selling at AutoZone

In other news, VP Eric S. Gould sold 2,100 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the transaction, the vice president now directly owns 910 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the sale, the chairman now owns 15,357 shares in the company, valued at approximately $48,992,208.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Eric S. Gould sold 2,100 shares of the firm’s stock in a transaction on 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 sale, the vice president now directly 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 a total of 27,797 shares of company stock worth $81,010,974 over the last quarter. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AutoZone

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in AutoZone by 232,194.6% in the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after buying an additional 731,413 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after purchasing an additional 698,613 shares during the last quarter. Royal Bank of Canada increased its stake in shares of AutoZone by 368.0% during the first quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock worth $841,242,000 after purchasing an additional 323,536 shares during the period. Norges Bank acquired a new stake in AutoZone during the 4th quarter worth approximately $658,788,000. Finally, Wellington Management Group LLP lifted its holdings in AutoZone by 111.4% during the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after purchasing an additional 176,623 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Company Profile

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.