AutoZone (NYSE:AZO) Price Target Lowered to $3,500.00 at Citigroup

AutoZone (NYSE:AZO) had its price target lowered by Citigroup from $3,787.00 to $3,500.00 in a research note published on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research firms also recently issued reports on AZO. Morgan Stanley lifted their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an overweight rating in a report on Wednesday. Wedbush restated an outperform rating and issued a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. Guggenheim increased their price objective on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a buy rating in a research note on Wednesday. StockNews.com downgraded shares of AutoZone from a buy rating to a hold rating in a research report on Saturday, September 21st. Finally, Evercore ISI reduced their price target on shares of AutoZone from $3,900.00 to $3,350.00 and set an outperform rating on the stock in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of Moderate Buy and a consensus price target of $3,169.38.

AutoZone Trading Up 0.2 %

Shares of AZO stock opened at $3,196.61 on Wednesday. The firm has a fifty day simple moving average of $3,116.79 and a 200-day simple moving average of $3,011.32. The company has a market capitalization of $54.61 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. AutoZone has a twelve month low of $2,375.35 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the previous year, the company earned $46.46 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that AutoZone will post 151.08 EPS for the current year.

Insiders Place Their Bets

In other news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.50% of the stock is owned by corporate insiders.

Institutional Trading of AutoZone

Several hedge funds have recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in shares of AutoZone in the first quarter valued at approximately $32,000. Riverview Trust Co acquired a new stake in AutoZone in the 1st quarter valued at approximately $41,000. Meeder Asset Management Inc. raised its stake in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in AutoZone during the 2nd quarter worth $50,000. Finally, ORG Partners LLC bought a new position in shares of AutoZone in the second quarter worth $50,000. 92.74% of the stock is currently owned by 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.