AutoZone (NYSE:AZO) Downgraded by StockNews.com

StockNews.com cut shares of AutoZone (NYSE:AZO) from a buy rating to a hold rating in a report issued on Wednesday.

A number of other analysts have also issued reports on AZO. TheStreet lowered shares of AutoZone from a c rating to a d+ rating in a research note on Wednesday, December 20th. William Blair restated an outperform rating on shares of AutoZone in a research note on Wednesday, December 13th. UBS Group lifted their price objective on shares of AutoZone from $3,100.00 to $3,425.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Truist Financial lifted their price objective on shares of AutoZone from $3,027.00 to $3,363.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Finally, Raymond James raised shares of AutoZone from an outperform rating to a strong-buy rating and lifted their price objective for the stock from $2,850.00 to $3,100.00 in a report on Wednesday, December 6th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $3,080.72.

AutoZone Stock Down 1.3 %

Shares of AZO opened at $3,151.65 on Wednesday. The company has a 50-day simple moving average of $2,921.44 and a 200-day simple moving average of $2,702.44. The company has a market capitalization of $54.52 billion, a PE ratio of 22.19, a P/E/G ratio of 1.69 and a beta of 0.70. AutoZone has a 52-week low of $2,277.88 and a 52-week high of $3,256.37.

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

Insider Buying and Selling at AutoZone

In other news, COO Thomas B. Newbern sold 7,800 shares of the stock in a transaction that occurred on 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 $6,427,530.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director George R. Mrkonic, Jr. sold 414 shares of AutoZone stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $2,541.85, for a total value of $1,052,325.90. Following the completion of the sale, the director now directly owns 3,470 shares in the company, valued at $8,820,219.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the chief operating officer now owns 2,519 shares of the company’s stock, valued at $6,427,530.78. The disclosure for this sale can be found here. Insiders have sold a total of 27,797 shares of company stock worth $81,010,974 over the last 90 days. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On AutoZone

Several institutional investors have recently modified their holdings of the business. RB Capital Management LLC acquired a new position in shares of AutoZone during the 1st quarter worth approximately $274,000. Fairfield Bush & CO. acquired a new position in shares of AutoZone during the 1st quarter worth approximately $57,000. Roundview Capital LLC increased its holdings in shares of AutoZone by 8.1% during the 1st quarter. Roundview Capital LLC now owns 426 shares of the company’s stock worth $871,000 after acquiring an additional 32 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of AutoZone by 31.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 237 shares of the company’s stock worth $485,000 after acquiring an additional 57 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in AutoZone by 24.4% in the 1st quarter. Sei Investments Co. now owns 12,966 shares of the company’s stock valued at $26,331,000 after buying an additional 2,545 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

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.