AutoZone (NYSE:AZO) Trading Down 4.5%

AutoZone, Inc. (NYSE:AZO)’s stock price was down 4.5% during mid-day trading on Monday . The stock traded as low as $2,806.51 and last traded at $2,831.69. Approximately 45,146 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 153,106 shares. The stock had previously closed at $2,964.10.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Morgan Stanley cut their price objective on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. Wedbush reduced their target price on AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. Barclays cut their price target on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Finally, UBS Group reduced their price objective on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3,112.71.

AutoZone Stock Up 1.2 %

The company has a market capitalization of $48.97 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71. The firm has a 50-day moving average of $2,891.70 and a two-hundred day moving average of $2,866.94.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping the consensus estimate of $35.67 by $1.02. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $34.12 earnings per share. On average, equities research analysts expect that AutoZone, Inc. will post 151.57 EPS for the current year.

Insider Activity at AutoZone

In other news, VP Jenna M. Bedsole bought 36 shares of AutoZone stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the acquisition, the vice president now directly owns 36 shares in the company, valued at $99,255.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AZO. Parnassus Investments LLC increased its position in AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after acquiring an additional 58,989 shares during the period. LGT Capital Partners LTD. lifted its stake in shares of AutoZone by 32.2% during the 4th quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock worth $70,458,000 after purchasing an additional 6,630 shares during the period. Nomura Holdings Inc. purchased a new position in AutoZone during the fourth quarter worth about $879,000. SRS Capital Advisors Inc. boosted its position in shares of AutoZone by 49.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 155 shares of the company’s stock worth $401,000 after acquiring an additional 51 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of AutoZone in the 4th quarter valued at $145,000. 92.74% of the stock is 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.