AutoZone (NYSE:AZO) Shares Gap Down to $3,048.82

AutoZone, Inc. (NYSE:AZO) shares gapped down prior to trading on Tuesday . The stock had previously closed at $3,048.82, but opened at $2,919.88. AutoZone shares last traded at $2,951.16, with a volume of 37,187 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AZO. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a report on Wednesday, June 26th. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. Evercore ISI decreased their target price on shares of AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research note on Friday. StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Guggenheim increased their target price on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $3,129.44.

AutoZone Stock Down 0.4 %

The stock has a market cap of $51.87 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.45 and a beta of 0.71. The company has a 50 day simple moving average of $3,107.86 and a 200-day simple moving average of $3,009.58.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in AutoZone by 35.3% during the first quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock worth $11,138,000 after acquiring an additional 922 shares during the period. Sei Investments Co. grew its holdings in shares of AutoZone by 60.7% during the first quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock valued at $70,326,000 after purchasing an additional 8,427 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of AutoZone by 12.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock worth $11,059,000 after purchasing an additional 401 shares during the period. Parnassus Investments LLC lifted its holdings in shares of AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after purchasing an additional 58,989 shares during the last quarter. Finally, Peak Financial Advisors LLC acquired a new position in AutoZone during the 2nd quarter valued at approximately $2,816,000. 92.74% of the stock is currently owned by institutional investors.

About AutoZone

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.