AutoZone (NYSE:AZO) Rating Lowered 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 report issued to clients and investors on Friday.

Several other analysts also recently weighed in on AZO. Barclays upped their price target on AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Evercore ISI upped their price target on AutoZone from $3,375.00 to $3,400.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. TheStreet downgraded AutoZone from a “c” rating to a “d+” rating in a research note on Wednesday, December 20th. Truist Financial upped their price target on AutoZone from $3,363.00 to $3,523.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, UBS Group upped their price target on AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Five 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 company’s stock. According to data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $3,089.61.

AutoZone Stock Performance

AZO stock opened at $2,962.32 on Friday. AutoZone has a fifty-two week low of $2,277.88 and a fifty-two week high of $3,256.37. The business’s 50 day moving average price is $2,988.35 and its two-hundred day moving average price is $2,744.90. The company has a market capitalization of $51.31 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 1.49 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share 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 firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the prior year, the business earned $24.64 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Sell-side analysts forecast that AutoZone will post 151.98 earnings per share for the current year.

Insider Activity

In other 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 transaction of $21,374,474.00. Following the transaction, the chairman now directly owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Grant E. Mcgee sold 693 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $2,654.14, for a total value of $1,839,319.02. Following the completion of the sale, the vice president now directly owns 251 shares in the company, valued at approximately $666,189.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 6,700 shares of the company’s 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 completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The disclosure for this sale can be found here. Insiders have sold 19,583 shares of company stock valued at $60,056,012 in the last ninety days. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AutoZone

Several hedge funds and other institutional investors have recently modified their holdings of AZO. Householder Group Estate & Retirement Specialist LLC purchased a new stake in AutoZone in the 3rd quarter worth $25,000. Rock Creek Group LP purchased a new stake in AutoZone in the 3rd quarter worth $25,000. Rise Advisors LLC purchased a new stake in AutoZone in the 1st quarter worth $32,000. First Capital Advisors Group LLC. purchased a new stake in AutoZone in the 2nd quarter worth $32,000. Finally, MUFG Americas Holdings Corp increased its stake in 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 in the last quarter. 92.74% of the stock is currently owned by hedge funds and other 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.