Wolfe Research downgraded shares of AutoZone, Inc. (NYSE:AZO) from a market perform rating to an underperform rating in a report released on Monday.

AZO has been the topic of several other reports. Barclays PLC cut their price objective on AutoZone from $870.00 to $710.00 and set an overweight rating on the stock in a research report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) raised AutoZone from a neutral rating to a buy rating and lifted their price objective for the company from $615.62 to $662.00 in a research report on Tuesday, May 30th. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reaffirmed a buy rating on shares of AutoZone in a research report on Tuesday, June 20th. Wedbush reaffirmed a neutral rating on shares of AutoZone in a research report on Thursday, July 6th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $810.00 price objective on shares of AutoZone in a research report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $780.26.

AutoZone (AZO) opened at 493.44 on Monday. The firm has a market capitalization of $13.83 billion, a P/E ratio of 11.40 and a beta of 0.62. The stock has a 50 day moving average price of $565.59 and a 200-day moving average price of $679.04. AutoZone has a 52 week low of $491.90 and a 52 week high of $818.00.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $12.00 by $0.56. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. AutoZone had a negative return on equity of 70.52% and a net margin of 11.82%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $10.77 earnings per share. Analysts anticipate that AutoZone will post $44.01 EPS for the current fiscal year.

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In other news, VP William T. Giles sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the completion of the sale, the vice president now owns 18,500 shares of the company’s stock, valued at approximately $10,750,350. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Andrew Mckenna acquired 300 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were acquired at an average cost of $507.00 per share, with a total value of $152,100.00. Following the transaction, the director now owns 5,131 shares in the company, valued at $2,601,417. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Prospera Financial Services Inc acquired a new stake in shares of AutoZone during the second quarter worth about $938,000. Assenagon Asset Management S.A. acquired a new stake in shares of AutoZone during the second quarter worth about $271,000. Aperio Group LLC increased its stake in shares of AutoZone by 3.1% in the second quarter. Aperio Group LLC now owns 21,558 shares of the company’s stock worth $12,298,000 after buying an additional 644 shares during the last quarter. Alpha Windward LLC increased its stake in shares of AutoZone by 3.2% in the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock worth $148,000 after buying an additional 8 shares during the last quarter. Finally, Tealwood Asset Management Inc. increased its stake in shares of AutoZone by 2.3% in the second quarter. Tealwood Asset Management Inc. now owns 2,100 shares of the company’s stock worth $1,198,000 after buying an additional 48 shares during the last quarter. 96.79% of the stock is owned by hedge funds and other institutional investors.

AutoZone Company Profile

Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

Analyst Recommendations for AutoZone (NYSE:AZO)

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